ABSOLUTELY! In most states you will be removed...and she will become the beneficary, generally the (current) spouse is the first heir...she more than likely wouldn't have any trouble getting this ...unless x husband would maybe write some kind of notarized document saying (in effect), 'yep I know she's my ex wife ,and i have a new wife, but i still want the exwife to get the proceeds from this policy upon my death' _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
From what we were told when obtaining my life insurance license. The benificiary is who would receive the death benefit, regardless of the marital status. It is the policy owners obligation to change the beneficiary. Since it is a binding contract, it must be executed as written.
I've seen situations where an ex received all benefits from a life policy, leaving the new spouse and children with nothing.
You should always review your insurance policies when you have a life change like this.
This may differ by state but I would definitely check with a licensed life insurance agent in your state.
This may differ by state but I would definitely check with a licensed life insurance agent in your state.
It can also differ (greatly it seems) if this is policy procured from your employer...I know that my brothers 'ex' wife (although still living as a married couple when he passed and named as beneficary) had a dickens of a time...collecting due to her 'ex' status. _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
I discussed this one with my wife today since she works with the US's largest 3rd party administrator. You are correct Lori. I does depend on if it's an employer sponsored life insurance policy or an individual life policy.
An employer sponsored policy will pay out to the spouse if an ex spouse is still listed as a beneificary since many people do forget to update their information. They will pay to an ex if the insured has some sort of written request to still pay to an ex even though they've remarried. This usually happens when there are kids with an ex and none with the new spouse, to make sure the kids are taken care of.
An individual policy is generally pretty firm about paying to the listed beneficiary. Now, sometimes the beneficiary can be disputed on these policies, but generally it's up to the one contesting it to prove incompetence of the deceased at the time the beneficiary was named. There are some other instances in which it can be disputed, but incompetence is the most common reason.
They will pay to an ex if the insured has some sort of written request to still pay to an ex even though they've remarried.
EXACTLY...that's why I told her
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unless x husband would maybe write some kind of notarized document saying (in effect), 'yep I know she's my ex wife ,and i have a new wife, but i still want the exwife to get the proceeds from this policy upon my death'
I've seen this in play a few times...one came out well (my brothers exwife, probably because he wasn't remarried and the rest of us 'heirs' signed off) others not so well the new wife got it all...appears the assumption is that the employee just 'forgot' to change it.... _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
This tells me that if you are divorced and don't want your ex to get anything, keep you paperwork up to date. Some gentlemen are not real good at doing this. I do all my husbands paperwork on everything, I know a lot of other women who do the same, we know their social security numbers, dates of birth etc, etc as if they were our children, men generally don't have this knowledge about the spouse. So I can see in a lot of cases where this paperwork would not get done. No insult intended to the males here, but usually when it comes to the paperwork, the ladies end up doing the paperwork.
So, if you spouse has an ex, we should be checking on what is out there and making sure that the beneficiary is correct on everything so that we don't have to deal with this mess after a funeral.
This tells me that if you are divorced and don't want your ex to get anything, keep you paperwork up to date
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So, if you spouse has an ex, we should be checking on what is out there and making sure that the beneficiary is correct on everything so that we don't have to deal with this mess after a funeral.
You kind of have it backwards...if you have an ex and WANT them to receive the proceeds then you need to complete a form that says, (in effect) i know i have a new wife, but i STILL want my ex to get the life insurance....course it's just a good rule to make sure all our beneficiarys are up to date...the trouble is (in this case) the assumption on most employee sponsored policys is the person just 'forgot' to change the bene to their new spouse...and further assumption by the (now dead) insured is i had my ex as my bene and that's what i wanted so i didn't change it (same applies to 401k's by the way)....so if you have an ex and you want that ex to get the proceeds you had better contact the provider and see what you need to do to assure that ex still gets the dough! _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
I think if the case were taken to court, the designated beneficiary would recieve the proceeds.
This is the way I have always understood beneficiary designations, otherwise people could go to court and just say that "he" or "she" was crazy and really didn't mean it.
