After talking to my dad the other week, he mentioned his home isn't insured, because he can't afford it. I've been looking up policies which would suit him, and I'm planning on paying for the policy myself in his name, because his home is in a rural area close to bushland in Australia.
However, in considering this, I wanted to know what would happen with the policy if, for example, there was a bushfire that destroyed the house and he were to die as a result of that. Would there be an insurance payout made to his estate, or would the policy be voided upon his death?
I worry that there will be a bushfire that forces him out of his home and he loses everything, with no insurance. But I also worry that he's the type to try and stay and defend his property (which is utterly un-defendable, as it borders on a mature woodland forest), so I'm just wondering what would happen in that situation.