Chi and Daniella are your clients and you are assessing their current financial situation and how it

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Question:

Chi and Daniella are your clients and you are assessing their current financial situation and how it impacts their insurance needs. Chi and Daniella are married and they have a mortgage on their home and a joint credit card with an outstanding balance. In addition, Chi has a car loan. Should Chi pass away, which of the following is a correct statement which describes the probable treatment of their debts?

a) the mortgage will be automatically extended to Daniella as survivor spouse

b) the credit card limit may be lowered

c) the car loan will become Daniella’s obligation as survivor spouse

d) all of the outstanding debts will have to be paid off by Daniella