That is up to the discression of the insurance company.
does a grant have to be repaid
Mortgage life insurance gives a person a lot of benefits like covering your loan to the bank and mortgage is paid in full, and also the house will be fully repaid and the rest of the family will have peace of mind from making mortgage payments.
repaid
A policy loan is available only against a whole life policy, not a term life policy. Whole life accumulates cash value and a term life policy does not. The insurance policy will specify the interest rate that will accrue on the loan. The loan does not have to be repaid, but interest will continue to accrue if it does not. The insurance company will permit only a specified percentage of the cash value to be borrowed, and there must be a sufficient accumulation of cash value to a policy loan to be made. You should contact the insurance company directly to make arrangements for the loan.
By policy lien in life insurance, you can get loan from your bank, post office or financial institution authorised to accept. In fact, it's some sort of mortgage, against the loan or credit to be provided to you. The policy bond will be kept deposited with the authority till the loan is repaid in full with interest.
If the loan is documented (there is written evidence for it signed by both parties) and there is an agreement that it should be repaid, then that loan is an "asset" in terms of the deceased's estate. Therefore in these circumstances YES the loan can and should be recovered to the estate.If the loan is undocumented, then is it unenforceable and not an asset.
Pay what you owe and negotiate with an insurance broker for the best company and deal. Since you have repaid your debt and you had no moving violations or accidents this should be easy.
No
does a grant have to be repaid
A favor should be repaid. If you're nice to me, I should be nice to you.
Money lent to a friend can be recovered from an enemy means that tensions can arise between friends when money is involved. The lender may feel that the borrower has taken advantage of them in some way and the borrower may feel that the lender expects more praise for loaning them money.
Subrogation, It's basically when an insured's insurance carrier pays for the damage done to their vehicle, even though it was the other parties fault. The insured's carrier will then go after the other parties carrier for reimbursement.
"Repaid" is a verb: "Bob did me a favor, so I repaid him by baking him a cake." "Unpaid" is an adjective: "I have several unpaid parking tickets."
what is it called when goverment note that is repaid with interest?
I don't want my favor repaid; I want you to pass it along.
prepaid
That is the whole idea to co-signing. Another party to collect from if the debtor doesnt/cant pay. You are the insurance policy that the loan will get repaid. AND neither the lender nor the debtor has to pay for that insurance.