The OR treat life insurance policies as assets in the bankruptcy. You can either allow it to lapse and take out another post bankruptcy, or buy it back of the OR for around 12months worth of payments.
If you do neither of these and just carry on paying the OR would have a claim on the policy in years to come on your demise.
does life insurance policy get taken away from me?
Posted - 29 July 2008 : 23:36:01
