Life Insurance & DRO

Karenh60
Karenh60 Posts: 8 Forumite
Fifth Anniversary First Post
in IVA & DRO
I know if you declare yourself bankrupt the official receiver also takes off you any life insurance policies you have.
Does the same thing happen with a DRO? 

Comments

  • fatbelly
    fatbelly Posts: 22,686 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    It's a no

    But if the policy has some sort of cash-in value then it would count towards the asset limit.

    And if it was a policy that you are still paying then that payment would not be an allowable expense
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