Have Legal Questions? Ask a Lawyer Now.
What I wrote were the terms of the TCF Command Protection Loan provision and I was wondering how his death doesnt follow with what they say is an accident when I have an autopsy report showing he did pass suddenly and unexpecdly
If you elect to purchase the TCF Command Protection Loan provision, these terms and conditions are inclused as part of the terms of youe agreement.
Accidental Death Waiver : For the monthly feee shown on pg 7, TCF will waive your indebtedness (up to $50,000) owing under the sgreement upon death resulting directly, and independently of all other causes from an accident. An accident is an unplanned event, unexpected, and undesigned, which occurs suddenly and at a definate place. the monthly fee will not be waived (it will be due) during any deferment period for the deferment events described below. A TCF command protection loan provision is not available on unsecured or non-real estate secured loans or on non real estate secured loans with an original principal amount of $10,000 or less.
We agree to waive the entire remaining outstanding balance you owe to us under this agreement as of the date of your accidental death, up to maximum amount of $50,000 (this is the maximum waiver under this provision, even if you purchase a joint provision for both borrower & co borrower), in the event of your accidental death subject to the limitations stated in this TCF Command Protection Loan provision, The TCF Command Protection Loan provision is also subject to the following exclusions:
death resulting from disease, sickness, bodily or mental infirmity, or medical or surgical treatment of the same
death resulting from suicide while sane or insane;
death resulting from intentionally self-inflicted bodily injury while sane or insane; or
death resulting from war or act of war, whether declared or undeclared.
Waiver means that the indebtedness is no longer due to TCF. No payments are made to you or any other prty. You, your estate, or heirs may incur a federal, state and/or local income tax as a result of the waiver of indebtedness. You should consult your tax advisor.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).