Legal Question in Banking Law in Iowa
I want to know we has a loan through a bank with insurance in case of death. My spouse was diagnosed with terminal cancer , then the said loan matured & we refinanced but insurance company would not re-insure her on the loan because of her medical condition . She passed away 3 months after signing re-fi pspers 6 months to the day of her diagnosis . Is that legal & are they still liable for loan amount ?
Asked on 7/29/13, 8:17 am
1 Answer from Attorneys
Robert Luedeman
solo practitioner
You borrowed money with an insurance policy attached. The loan matured. Now the insurance company won't insure you because your relative is terminal. Then she died. What exactly about this scenario do you think is illegal?
Answered on 8/02/13, 11:24 am
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