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Using Life Insurance to Pay Off Debt - NerdWallet

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Your beneficiaries can use life insurance to pay off your debt after you die, but not all debt is inherited. Learn more now.

Paying down debt can be financially draining and stressful and not something you'd want your loved ones to take on after you die. Many kinds of debt aren’t inherited by family members or cosigners. But for the debts that might be passed on, a life insurance policy can be a good option to help your loved ones cover the balance. Here’s help to think through two key questions about using life insurance to pay off debt: li>ol]:ml-4 [&>li>ul]:ml-4 [&>li]:mt-2"> Will my debts be passed on if I die? How could I use life insurance to help pay for debts that are passed on? 🤓 Nerdy Tip The prim

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