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: 22,737 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
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.3K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.2K Spending & Discounts
  • 243.2K Work, Benefits & Business
  • 597.8K Mortgages, Homes & Bills
  • 176.6K Life & Family
  • 256.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture