A beneficiary for my policy!

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PostPosted: Thu Feb 22, 2007 8:49 am   Post subject: A beneficiary for my policy!  

Whats the correct way to change the beneficiary of my life policy ?? Is it really very difficult ?? Rocky Rulmsfeld


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Rocky Rulmsfeld
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PostPosted: Thu Feb 22, 2007 9:01 am   Post subject: hi!  

Not at all, its actually quite easy. First of all you would need to consult your insurance company and do it pretty much the same way as they guide you. I'm sure that you'd need to fill up a form offered by the insurer. Regards, Fatman.

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PostPosted: Thu Feb 22, 2007 9:50 am   Post subject: jus another possibility!  

Hi, In your case, there could also be another possibility. There could be a change in the conditions thereby allowing someone to pose as the beneficiary. Thanks, Mercedes L. Valverde.


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PostPosted: Thu Feb 22, 2007 10:05 am   Post subject: Thanks!  

Hi Thanks a lot guys! ..now is it possible that someone other than a relative can be my policy beneficiary ?? Rocky Rulmsfeld


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Rocky Rulmsfeld
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PostPosted: Wed Feb 28, 2007 6:10 am   Post subject:   

You can def change the benificiary and it is usually just a form that you need to complete and sign, as mentioned above you will have to contact your agent that wrote the policy or the company and they will provide an agent to you.



As for your second question, no the benificiary does not have to be a relative. It can be anyone at this point if the policy is already in force.



It really only matters when the policy is being written and issued as to who is listed as the beni.... there is more to this but I think in your case as long as the policy has been in force you can list who ever.



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PostPosted: Wed Jan 07, 2015 8:26 pm   Post subject: Revocking a will  

My husbands Aunt died and named three nieces and one nephew as a beneficiary! She had an earlier will with different names on it!

It was changed because the others never kept in contact with her. My sister in-law is contesting because she was not named in the new will. Can she legally do this? The Aunt was of sound mind and was not swayed when she did this.


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PostPosted: Thu Jan 15, 2015 8:10 am   Post subject:   

Anyone can contest anything they want. Winning the contest is a different matter. Life insurance is a "non-probate" asset, so whatever is stated in a will has little or no effect on life insurance proceeds unless they are payable to the estate of the decedent.



Being named the benefactor in a will is not the same as being named the beneficiary of a life insurance policy.



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