Can Creditors Get Life Insurance Money? 
I life insurance policy is a contract that operates outside of probate . Debtors present obligations to probate . The only way that life insurance proceeds would be used to satisfy debtors is when the beneficiary has died or the beneficiary was the estate . There are ways that a debtor can secure their debt with life insurance and many do that . Mortgage companies can not secure debt with a life insurance policy , their recourse is the residence . 