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Hi.
A friend borrowed 50,000 with collateral from a bank and was insured for said amount. However, she died last August which incidentally coincided with maturity of her loan. Insurance proceeds for 50,000 arrived after 4 months. Is the beneficiary or estate still liable to pay the interest or penalties that accrued on the 4 month delay? thanks.
A friend borrowed 50,000 with collateral from a bank and was insured for said amount. However, she died last August which incidentally coincided with maturity of her loan. Insurance proceeds for 50,000 arrived after 4 months. Is the beneficiary or estate still liable to pay the interest or penalties that accrued on the 4 month delay? thanks.
