One comment I have is about the mortgage insurance vs term insurance. A big negative of mortgage insurance is that you may have to requalify every time you move or refinance, whereas term insurance follows you, and probably has a guaranteed renewal at the end of the term. So if you had to move due to a diagnosed chronic disease, your life insurance could be cancelled on you if you have mortgage insurance.
So if person X with tons of debt dies, and the family doesn't want to deal with it, that's cool. But, are they barred from taking their family keepsakes etc from the house or it all the property from the dead person now part of the 'estate' and not the family's property anymore?
Since the main cardholder is responsible for all the debt and it's not joint, the supplementary cardholder doesn't get anything reported to their bureau to build the credit.
![[Limbus Company - PV] Chapter.7 - Oblivion](http://i.ytimg.com/vi/VUpkXPkvoxU/mqdefault.jpg)
Thanks for the clarification
One comment I have is about the mortgage insurance vs term insurance. A big negative of mortgage insurance is that you may have to requalify every time you move or refinance, whereas term insurance follows you, and probably has a guaranteed renewal at the end of the term. So if you had to move due to a diagnosed chronic disease, your life insurance could be cancelled on you if you have mortgage insurance.
So if person X with tons of debt dies, and the family doesn't want to deal with it, that's cool. But, are they barred from taking their family keepsakes etc from the house or it all the property from the dead person now part of the 'estate' and not the family's property anymore?
Does the supplementary card still count towards credit history and help build a credit score ?
Since the main cardholder is responsible for all the debt and it's not joint, the supplementary cardholder doesn't get anything reported to their bureau to build the credit.