Re:What Dreams May Come
by yodsanklai on Thursday March 13, 2014 @08:17AM
(#7391272)
> I have always wondered why don't Government have regulations in place that forces a borrower to purchase a life insurance
It's the old "nanny state" debate... In France, life insurances are mandatory when you get a mortgage. However, one still has to be particularly careful with insurance policies. My mother died to a cancer, a few years after she contracted a loan. However, the insurance company refused to pay off the loan. The contract was nullified as she didn't mention a disease she had 15 years before (unrelated the the cancer that killed her).
It's the old "nanny state" debate... In France, life insurances are mandatory when you get a mortgage. However, one still has to be particularly careful with insurance policies. My mother died to a cancer, a few years after she contracted a loan. However, the insurance company refused to pay off the loan. The contract was nullified as she didn't mention a disease she had 15 years before (unrelated the the cancer that killed her).