Contesting life insurance beneficiary: Can it be done?

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PostPosted: Thu Nov 01, 2012 4:02 pm   Post subject: can they do this  

I have been living with my partner for 3 yrs he was married but not living with his wife for almost 8 yrs they were married in Wisconsin in 92. he had lived in Florida since 2004- 2005. we moved to Louisiana for work in 11-11, since we shared many financial obligations and worked for the same employer when filling out benifits he named me as benificiary of his life insurance policy and his adult daughter as a secondary. he and his wife had no obligations financially and had led seperate lives for almost 8 yrs. My partner passed away suddenly, with no will. once wife was told about insurance policy she immediately filed a claim against policy which has been. now been in the "legal dept "for over 2 mos with no answer only it's under review Not only am I grief stricken at the loss of a loved one, but unable to pay bills and possibly being homeless. Can someone tell me whats going on and do have any rights?.how long could this drag out?


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sadgirl
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PostPosted: Thu Nov 01, 2012 4:30 pm   Post subject:   

If your employer's life insurance benefit is part of an ERISA covered plan, you may be out of luck if they were still legally married. Many such plans require that a spouse be named the life insurance beneficiary, and that if the insured employee wants to name someone else as his/her beneficiary it requires the spouse to sign a waiver of their right to the insurance proceeds.



You need to get a copy of the document called Summary Plan Description and see what it says about Life Insurance Beneficiaries.



I'm not going to ask you why you were living with someone who was legally married to another person. You should have asked yourself that question. As a result, you are not entitled to any protection under state probate laws, nor are you entitled to any benefits from Social Security based on this person's work record. Tough luck.



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PostPosted: Fri Nov 23, 2012 2:36 am   Post subject: Life insurance dispute  

My sister in law's mother recently passed! The mother of my sister in-law named my sister in-law was named the sole beneficiary to her mothers life insurance. It has been over a month since the passing and someone, unanimously is contesting the payout of the insurance policy. Does my sister in-law have the right in the state of New Mexico to know who i is disputing the payout of the policy?


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PostPosted: Fri Nov 23, 2012 5:17 am   Post subject: Life Insurance question  

A man has children, he is killed by an accident, his life insurance policies listed his father who is deceased as beneficiary. For some reason the eldest daughter received one whole policy and was able to receive 1/4 of the other policy. Why is that is was not split equally between all for children?


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PostPosted: Fri Nov 23, 2012 9:26 am   Post subject: life insurance beneficiary  

Have you checked the policy? Maybe she was named as the secondary beneficiary.

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PostPosted: Fri Nov 23, 2012 5:00 pm   Post subject:   

Quote:
someone, unanimously is contesting the payout of the insurance policy.


I think you mean anonymously. The insurance company may not have to tell you right now who it is that is contesting the policy, but they will eventually. If there has been a probate case opened in the local court, you can force the insurance company to reveal that information with a legal discovery request.



If probate has not been opened yet, an attorney can write a strong demand letter that will probably get the insurance company to reveal the details of the challenge. That might cost you a couple of hundred dollars.



You can always call the insurance company and simply ask who it is that has filed a challenge, and they will probably tell you IF you are the person listed as the primary beneficiary. Then you can write your own responsive letter stating your position with respect to the challenge.


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PostPosted: Fri Nov 23, 2012 5:17 pm   Post subject:   

Quote:
his life insurance policies listed his father who is deceased as beneficiary. For some reason the eldest daughter received one whole policy and was able to receive 1/4 of the other policy


The most likely explanation for this is that the eldest daughter was named the contingent beneficiary of one policy, so the entire proceeds were hers. The other policy was divided per stirpes per state probate law, and each child received 1/4 of the policy proceeds.


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PostPosted: Mon Jan 07, 2013 3:09 am   Post subject: who will be next heir  

My husband recently died suddenly and his mother has a life insurance policy and will naming him as the only beneficiary. There are no other living siblings, his father has also passed. There is (3) living grandchildren. My husband's will left everything to me. Does this mean I will inherit from his mothers's insurance and estate if she does not change her will since I was her daughter in law.


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PostPosted: Mon Jan 07, 2013 3:38 am   Post subject:   

My condolences for the loss of your husband.



Quote:
Does this mean I will inherit from his mothers's insurance and estate if she does not change her will since I was her daughter in law.


Almost certainly NO. Most state probate laws use a distribution procedure known as PER STIRPES. This means that estate assets remain in the BLOODLINE, and as a spouse, you are not there. Your children, if you have any (and/or any other grandchildren of deceased parents), are among the top line as next of kin of their father, as are any siblings, parents, aunts or uncles by birth (not by marriage), and any cousins (if there are no surviving aunts or uncles), of the decedent.



Per stirpes will distribute equal shares of an estate into each of the downline, upline, or adjacent bloodlines of the decedent, always looking to the down (children) first, up (parents) second, and horizontal (siblings) third. The diagonals (aunts, uncles, and their children) are next. But the spouses of any of them are necessarily excluded as outside the bloodline.



Unless your mother-in-law changes her will and life insurance beneficiaries, you, personally, are in line for exactly $0 of her estate.


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PostPosted: Tue Jan 22, 2013 8:22 pm   Post subject: Are life insurance payouts a matter of public record?  

how can i find out how much money my siblings received from our step father's life insurance policies? We live in Minnesota..


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PostPosted: Tue Jan 22, 2013 9:15 pm   Post subject:   

Ask your siblings. Doesn't matter where you live.



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PostPosted: Sat Feb 02, 2013 6:06 pm   Post subject: Beneficiary Survived, But Didn't Collect Insurance Proceeds  

My dad was the only named beneficiary of my uncle's life insurance policy. My uncle died. My dad survived him. My dad never collected on the policy. My dad is now dead. My dad had a will. My uncle had two other siblings who are still living. Where does the money go?

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PostPosted: Sat Feb 02, 2013 7:09 pm   Post subject:   

The money belongs to your father. What is the reason why he never collected on the policy? Because he was alive at the time of your uncle's death, but is now, himself, deceased, the money is payable to his estate, where it will be divided among his creditors or his heirs. The death benefit is out of your deceased uncle's blood line.



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PostPosted: Sat Feb 02, 2013 11:35 pm   Post subject:   

My father never collected because, I assume, he didn't know about it. My wife discovered the policy when our state published a list.


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PostPosted: Sun Feb 03, 2013 2:43 pm   Post subject:   

Then whoever is the administrator of your father's estate needs to make an application the state to obtain the money they are holding (it will require submitting legal evidence of that person's role along with the application to obtain the proceeds). The insurance company failed to contact the beneficiary following the insured's death -- of which they were aware because they get that information from Social Security -- and then they later escheated the money to the state.



A number of states, beginning with Florida and California, have obtained large monetary settlements with a number of insurance companies over that failure to contact the beneficiary.



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