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Compulsory life insurance with IVA?
Posted: Sat Oct 14, 2017 4:17 pm
by sonja
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
Re: Compulsory life insurance with IVA?
Posted: Sat Oct 14, 2017 4:32 pm
by kallis3
Which company are you with? We had to take out insurance with ours but it was included in our payments. Nothing to worry about.
Re: Compulsory life insurance with IVA?
Posted: Sat Oct 14, 2017 5:17 pm
by Foggy
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.
Re: Compulsory life insurance with IVA?
Posted: Sat Oct 14, 2017 6:38 pm
by Twiglet
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.