Ask Experts Questions for FREE Help !
Ask
    vender's Avatar
    vender Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 8, 2008, 05:13 PM
    Term life
    I went bankruptcy over 13 years ago, will that hurt me getting term life insurance
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    May 9, 2008, 03:11 PM
    No it will not.

    Here is why…

    If you die, and have not kept up on your premiums, then they don't have to pay out an insurance policy.

    Therefore, they don't care about your financial history in that regard.
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
    		  
    #3

    May 9, 2008, 03:21 PM
    I agree with CaptainForest with only one exception.

    Most term life issuers now require that you have an active bank account for the premium payments to be automatically withdrawn from.

    As long as your credit situation is not preventing you from having an active bank account, you should not have any other concerns.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #4

    May 9, 2008, 04:27 PM
    No, actually you could be going bankrupt tomorrow and it will not effect most term life policies, In fact I wrote a couple of people last month that had just filed and they had no problem at all.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Short term vs long term capital gains, loss carryovers [ 4 Answers ]

Back in 2000 and 2001, I had short term capital losses that exceeded the 3000 dollar limit. Each year, I've been able to deduct 3000 dollars since my short term gains have been minimal. I still haven't used up all my 2000 and 2001 short term losses. I had some long term gains in 2000, but...

Accounting for Long Term and Short Term Cap Gains [ 2 Answers ]

How do I properly account for Long Term and Short Term Capital Gains from investments (stocks and bonds)? I am unsure of which account to use and the proper treatment on the financial statements. We (the Company) have not been involved in investing much until this year. Feel free to assume I know...

Investment interest and term, amortization for 5 yr term [ 1 Answers ]

I would like to know if I invest 10,000 into a secure low risk investment for a 5 year term at compound interest, could anyone advise me of which bank to use and what my return is per year compounded. Thank you!

Is short-term or long-term debt more stressful to your personal finances? Why? [ 4 Answers ]

Is short-term or long-term debt more stressful to your personal finances? Why?

View more questions Search