Which of the following is the most important consideration in deciding on creditor insurance versus personally owned life insurance?

Question

Quizplus · Accepted Answer

Who the owner is is the most important consideration in deciding on creditor insurance versus personally owned life insurance. If the creditor is the owner of the policy, then the proceeds of the policy will go to the creditor to pay off the debt. If the debtor is the owner of the policy, then the proceeds of the policy will go to the debtor's beneficiaries.

Which of the Following Is the Most Important Consideration in Deciding