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life insurance question after OR interview
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pink-lint_2
Posts: 546 Forumite

this doesnt make sense . i thought the whole idea about buying it back was so it was ours if one of us die or if we get critically ill

would it be just easier canncelling my policy ?
does any one know anything about this????????
thanks pinkx
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No it wont go to him if you buy it back, you are correct that is the point, the same as buying your BI in a property back to protect any future equity
Maybe your OR confused themselves:p (or just worded it badly:rolleyes: )Thats it, i am done, Blind-as-a-Bat has left the forum, for good this time, there is no way I can recover this account, as the password was random, and not recorded, and the email used no longer exits, nor can be recovered to recover the account, goodbye all ………….0 -
i was all in a panic , thinking well whats the point of me having it if he can claim it back in 20 years or whenever.
but if we buy it back he can never have it , is that right?0 -
what would happen if we won the lottery or came in to some money ?
would they take it all or just the amount OH went BR for ???0 -
They can only take anything for the length of the BR unless an IPA is put in place and then they can take money you win etc for three years. I think they could only take what was owed not all of it, but I am not sure on that.Some Days are Diamonds Some Days are Stones,Sometimes the hard times won't leave meBSC 162:beer:Banktupt 22 Oct 2008 at 10am!0
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i know we got ourselves in this but it would seem a bit unfair taking a million if you won a million instead of the 22,000 we went BR for
got no chance of winning anything like that though , we are the unluckyest people in the world (i think)0 -
I think you will find that if you won any amount of money the OR can seize up to the amount you go BR for plus any reasonable expenses - I dont think they can take the whole amount if it is considerably more than you went BR for, but if you are not sure ring them and ask - the officers were generally very helpful I found duing my BR0
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