by Guest » Wed Jan 16, 2008 08:04 am
our son was recently killed in iraq. he had a small life insurance policy with transworld assurance company. he listed the beneficiary as his wife. however they were never married, just friends. he was never married at all. we would like to know if there is any recourse for this false information so that she doesn't recieve the money. she was also listed as sole beneficiary for his very large sgli policy and she already got that. any info would help. thank you
Posted: Wed Jan 16, 2008 08:41 am Post Subject:
Hi goldstar family, first, accept my condolence.
Now to your problem...... the policy holder can name anyone of his choice as the beneficiary of his policy. And the beneficiary is free to collect the benefits, he/she is entitled to. It hardly matters whether they were legally married or not.
she was also listed as sole beneficiary for his very large sgli policy and she already got that.
It seems that the insurance company has recognized her as an authentic beneficiary and has given out the compensation to her. IMO it won't pay you off much if you contest the beneficiary issue at court. And the above incident may tilt the judgment further in her favor.
Posted: Wed Jan 16, 2008 08:55 am Post Subject:
Yeah right, the policy holder can entitle anyone to receive the policy benefits, but the thumb rule says that the person should have an insurable interest against the policy holder. Under normal circumstances the policy benefits are paid to the wife and/or children of the deceased, where they are economically dependent on the policy holder.
Posted: Wed Jan 16, 2008 09:24 am Post Subject:
My friend, lemme make you aware of the fact that you have an uphill battle ahead. You can always contest something you are not in agreement with but contesting the life policy beneficiary is not an easy task as it sounds. Our society recognizes the free-will of the insured to name anyone as the beneficiary in his/her policy, and the insurance company will comply with it.
However, disputing the policy is not rare. The first thing you should do in this context is inform the insurance company that there is a dispute regarding beneficiary issue. This will make them stop paying the benefits to her. Secondly, you should contact a lawyer for further guidance over the matter.
Posted: Wed Jan 16, 2008 10:20 am Post Subject:
I'm sorry Goldstar Family I'm afraid you are out of luck on this as well...Certainly bring it to the insuring company's attention and try but more than likely it will be in vane, but you will atleast have the satisfaction that you tried...
I'm so very sorry about the loss of your dear son, the price he and your family have paid in service to this country is too high, and again I am so very very sorry. I will keep your family in my prayers.
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