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

Question

Quizplus · Accepted Answer

The most important consideration in deciding between creditor insurance and personally owned life insurance is who the beneficiary is. With creditor insurance, the beneficiary is the creditor, ensuring the debt is paid off upon the insured's death. With personally owned life insurance, the policyholder can choose any beneficiary, providing more flexibility and control over the policy proceeds.

Which of the Following Is the Most Important Consideration in Deciding