Q190
Mahesh ran a business on borrowed capital. After his sudden demise, all the creditors are doing their best to go after Mahesh’s assets. Which of the below assets is beyond the reach of the creditors?
A.
Property under Mahesh's name
B.
Mahesh's bank accounts
C.
Term life insurance policy purchased under section 6 of the MWP Act
AnswerD.
Mutual funds owned by Mahesh
Answer: Option C
Solution
Answer: Option C
Solution:
The term life insurance policy purchased under Section 6 of the MWP Act cannot be taken by the creditors.