Thread: Life Insurance?
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Old 06-16-2006, 08:31 AM
sweeps sweeps is offline
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Default Re: Life Insurance?

Upon your death, your debts will be paid with whatever assets you have. Secured debt (mortgage, etc.) gets paid first, then unsecured debt (credit card, student loan, hospital bills, etc.) gets paid second. If your assets don't cover your debts, the creditor takes a loss. Your parents can't inherit the debt.
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