In the event of your demise, if there are dues to be paid to others, your assets can be attached by any court to clear those dues.
However, if any investment or Term Plan Insurance is registered under the MWPA, benefits accruing under these assets CANNOT be attached by any court and your wife and kids will be protected financially.
Required in case you are under heavy Debt. You can see many bankrupt businessmen enjoying life because they took timely precautions exploiting the advantages provided by this act to their wives.
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