MK Yaakov Asher (UTJ) has proposed a law that would freeze mortgage payments to the bank for a year in a situation of a death until insurance money comes in to the family.
The purpose of this is to lessen the financial burden on the family off the deceased.
The Finance Committee of the Knesset has voted today in favor of this proposal.
source: Biznews
On the one hand this makes sense, especially in light of the way insurance companies often delay payouts. This would lessen the burden, especially if it is the main breadwinner of the family that passed.
On the other hand, a loan is a loan, and why should the banks lose on its returns, especially for so long? It isnt the banks fault the insurance companies take so long to pay. Why do the banks have to lose, from delayed payments, from fluctuating interest rates, because of other people's issues?
I don't know which side should take precedence, but it does seem that this would be a big help to a grieving family.
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