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is there a life insurance to pay off a recrational vehicle?

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If you buy a life insurance policy it provides a cash benefit to the beneficiary(s) who can use the money to pay for whatever they want, including paying off the loan of a recreational vehicle. You would just want the face value of the policy to meet or exceed the value of the recreational vehicle. There isn't a life insurance policy that is designed to specifically pay for a recreational vehicle or any other type of property.

There are two broad types of life insurance. The first type is term life insurance. This stays in force for a specific number of years, usually somewhere between 5 to 25 years, assuming the premium is paid. This is the less expensive of the two types of life insurance.

The other type of life insurance is universal life insurance or permanent life insurance as it is sometimes called. This policy covers you until you die, assuming the premiums are paid. This policy is more expensive than term life insurance. It can build cash value, though, which a term life insurance policy can't do.
answered Feb 15 by jim (1,780)
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