scorecardresearchHow can you safeguard insurance money from outside liabilities?

How can you safeguard insurance money from outside liabilities?

Updated: 20 Jul 2022, 08:52 AM IST
TL;DR.
There is a possibility that the life insured had some outstanding borrowings or debts either from banks or from creditors in case of a businessman. These are to be repaid even when the person is not alive. In general parlance, banks & creditors have the right to the property of life insured to recover their dues.
How can you safeguard insurance money from outside liabilities?

How can you safeguard insurance money from outside liabilities?