17:55 - 24.05.2023

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May 24, Fineko/abc.az. Payments cannot be demanded from the heirs of persons who have taken out a loan or own property on life insurance,

ABC.AZ quotes expert economist Vugar Bayramov.

He said that the main feature of life insurance is that if the borrower dies, the insurance company will pay the remaining cost. These obligations are also covered when the insured dies.

In this regard, if the loan amount is fully taken into account in life insurance, then no payments may be required from the heir.

The borrower also pays for life insurance, so that in the event of his death, funds from his heir are not required.