If i die will all my medical bills got to my wife? if so then what the point of even having life insurance?

Question

the system is fuct up!

Answer 1

Depends on your situation.  What do medical bills have to do with life insurance?  Would you rather that your wife got nothing?

Answer 2

You have 2 things going on here:

1.  Unpaid medical bills - upon your death - will fall to your estate.  This usually is your spouse.  And they will hinder her, both financially and emotionally.

2.  Life insurance whomever, is tax-free and in this case, creditor - proof.  They are considered an asset, that liens cannot be assessed to.  Yet, they are usually paid lump sum to a "beneficiary", aka your wife.  If put in a bank - as most will do - then they become subject to #1.  Yes, can be a Catch-22.

The good news is:  depending on the time frame involved, you can have a trust set up as the beneficiary; naming your spouse (or another very trusted family member) as the "trustee" - giving her access to the monies.  This is more complicated than can be explained adequately in this forum.  I would suggest contacting a CPA and the insurance agent / company directly - they will know specifics.

Also, the reason someone has life insurance in the 1st place is to help eleviate the economic loss / strain of our  loved ones when we die.  Mortages, loans, debt, loss of your income, etc.  Unpaid medical bills is another.  Good for your in having the foresight in your life to have life insurance - you wife's life after you may not be easier, yet life insurance will help.

5.  If you are not terminal at this point - I couldn't tell from your question - consider if you have enough life insurance.

Hope that helps

Answer 3

If you don't have life insurance at the time of your death your wife would have medical bills and no way to pay them.

Answer 4

Why would a wife be responsible for her husband's  medical bills?  She won't be responsible to pay off your credit cards if they are only in your name.  Life insurance will help her lifestyle after she loses your income.

They may be able to put a lien on your house-who cares.  It can't be collected on until the house is sold.  Maybe get the house out of your name with a quit claim deed.

Answer 5

when you die, tell her not to set up an estate. have her tell the creditors that you had no assets.  they cant touch her. how many people are going to sue a widow?