Vt. Stat. tit. 9 § 48
Current through L. 2024, c. 185.
If a loan is paid before its due date as the result of the death of a borrower insured under a creditor life insurance policy and the insurance proceeds exceed the amount owing on the loan with interest, the excess shall be refunded to a beneficiary designated by the borrower, or to the estate of the insured, or applied in reduction of the debt.
9 V.S.A. § 48