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Your life insurance may not go to your family if you have outstanding loans. Here's why | Collector
Your life insurance may not go to your family if you have outstanding loans. Here's why
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Your life insurance may not go to your family if you have outstanding loans. Here's why

Many Indians buy life insurance believing the death benefit will automatically secure their family's future. However, experts warn that if the policyholder dies with unpaid loans or personal guarantees, creditors may have a legal claim on the insurance proceeds unless adequate safeguards are in place.

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