Compulsory life insurance with IVA?

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sonja

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Post by sonja » Sat Oct 14, 2017 4:17 pm
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Do u have to have life insurance with a Iva. i have applied for Iva and I feel I have been forced to take life insurance
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kallis3

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Post by kallis3 » Sat Oct 14, 2017 4:32 pm
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Which company are you with? We had to take out insurance with ours but it was included in our payments. Nothing to worry about.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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Foggy

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Post by Foggy » Sat Oct 14, 2017 5:17 pm
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If it is funded from the payments I wouldn't worry --- if you do pass during the IVA at least your estate will be free of debt.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Twiglet

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Post by Twiglet » Sat Oct 14, 2017 6:38 pm
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I didn’t have life insurance for the entire time of my IVA (only finished earlier this month) and wasn’t asked to take it out although I do not know the ins and outs on reasons you may be asked to take it. It’s probably not a bad thing to have though if they account for it within your payments.
IVA completed (with funds paid to date) 4th October 2017.......Completion certificate received 23rd December 2017 :D
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