if i die will all my medical bills got to my wife? if so then what the point of even having life insurance?
Posted on Mar 15, 2008 under Insurance Information |the system is fuct up!
kingkings.com
Insurance Information
the system is fuct up!
March 15th, 2008 at 7:51 am
If you don't have life insurance at the time of your death your wife would have medical bills and no way to pay them.
March 15th, 2008 at 7:51 am
Depends on your situation. What do medical bills have to do with life insurance? Would you rather that your wife got nothing?
March 15th, 2008 at 7:51 am
Why would a wife be responsible for her husband's medical bills? She won't be responsible to pay off your credit cards if they are only in your name. Life insurance will help her lifestyle after she loses your income.
They may be able to put a lien on your house-who cares. It can't be collected on until the house is sold. Maybe get the house out of your name with a quit claim deed.
March 15th, 2008 at 7:51 am
You have 2 things going on here:
1. Unpaid medical bills - upon your death - will fall to your estate. This usually is your spouse. And they will hinder her, both financially and emotionally.
2. Life insurance whomever, is tax-free and in this case, creditor - proof. They are considered an asset, that liens cannot be assessed to. Yet, they are usually paid lump sum to a "beneficiary", aka your wife. If put in a bank - as most will do - then they become subject to #1. Yes, can be a Catch-22.
The good news is: depending on the time frame involved, you can have a trust set up as the beneficiary; naming your spouse (or another very trusted family member) as the "trustee" - giving her access to the monies. This is more complicated than can be explained adequately in this forum. I would suggest contacting a CPA and the insurance agent / company directly - they will know specifics.
Also, the reason someone has life insurance in the 1st place is to help eleviate the economic loss / strain of our loved ones when we die. Mortages, loans, debt, loss of your income, etc. Unpaid medical bills is another. Good for your in having the foresight in your life to have life insurance - you wife's life after you may not be easier, yet life insurance will help.
5. If you are not terminal at this point - I couldn't tell from your question - consider if you have enough life insurance.
Hope that helps
March 15th, 2008 at 7:51 am
when you die, tell her not to set up an estate. have her tell the creditors that you had no assets. they cant touch her. how many people are going to sue a widow?
November 5th, 2009 at 8:06 pm
Moms Passions
November 5th, 2009 at 8:08 pm
Asian Sluts
November 5th, 2009 at 8:09 pm
Stella Heart
December 29th, 2010 at 2:08 pm
The layout of 1’s weblog is completely messed up once I view it in Opera. Plz fix it.
January 3rd, 2011 at 6:37 pm
I have beeing trying to find the WWW for this info and i wanted to thank u for this post. Also, just off topic, where can i get a copy of this theme? – Regards
January 5th, 2011 at 11:19 pm
Plenty of usefull information plus inspiration, each of which everyone will need, appreciation for this particular.
January 6th, 2011 at 6:29 am
We needed significant information and facts on this subject. The internet seemed to be critical like me on the verge of release my very own webpages. Thank you for delivering a new lost web page link around my enterprise.
October 30th, 2011 at 11:33 pm
Christmas Tree…
This is very fascinating, You are a very skilled blogger. I’ve joined your rss feed and sit up for looking for more of your wonderful post. Additionally, I’ve shared your web site in my social networks! Christmas Tree …
January 5th, 2012 at 8:57 am
… [Trackback] …
[…] Read More Infos here: kingkings.com/2008/03/15/if-i-die-will-all-my-medical-bills-got-to-my-wife-if-so-then-what-the-point-of-even-having-life-insurance/ […] …
January 14th, 2012 at 12:44 am
Gems from the Internet…
[…] I really like to look around the web, habitually I’ll just go to Digg and browse and take a look at stuff out there […]…