Who will get the life insurance benefits?

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PostPosted: Wed Nov 13, 2013 4:05 pm   Post subject: Who will get the life insurance benefits?  

My husband & I were married for almost 23 years when he died. We did not have children. He had 2 adult children from his 1st marriage. Life insurance policy lists me as sole beneficiary. Husband's will (several years old) states everything goes to me. Step son contesting will & life insurance policy. Life Insurance Company has hired attorney to file interpleader action in this case. What will happen? Step son & I do not get along.

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PostPosted: Thu Nov 14, 2013 5:15 am   Post subject:   

If you are the sole beneficiary of the insurance policy and moreover, the will, there is little your step son can do contesting it. Keep your cool!



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PostPosted: Fri Nov 15, 2013 4:40 am   Post subject:   

Quote:
If you are the sole beneficiary of the insurance policy and moreover, the will, there is little your step son can do contesting it.
DO NOT LISTEN TO THIS FOOL who is not a licensed insurance agent of any kind. A will has nothing to do with the life insurance whatsoever -- it is a completely unrelated matter.



Quote:
Life Insurance Company has hired attorney to file interpleader action in this case. What will happen?
That's ridiculous, but it means that you need to hire an attorney that specializes in life insurance matters to protect your interests because this matter will be going to FEDERAL COURT, where you really cannot represent yourself. The insurance company will get to keep $5000 or $6000 of the death benefit for its "legal expenses" that they really aren't entitled to, but the court will award it.



If you can prove that there was no basis for the interpleader and are entitled to the death benefit, then your attorney can sue the insurance company for its bad faith and you may recover that money, plus more, as a result.



It's unfortunate that the insurance company chose to go this way, but it's actually becoming more common.


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PostPosted: Wed Nov 20, 2013 12:16 am   Post subject:   

I would say that the longer the life insurance has been in force, the harder it would be for anyone to challenge it. It would be even harder if the beneficiary has never changed.



Were the premium paid through a joint bank account?



I believe any will he had before you were married becomes null and void upon a new marriage, can someone confirm? So if the son is basing his claim on an old will, its harder for him.

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PostPosted: Wed Nov 20, 2013 2:20 am   Post subject:   

Quote:
I believe any will he had before you were married becomes null and void upon a new marriage
Not true, and it has nothing to do with life insurance proceeds.



Quote:
I would say that the longer the life insurance has been in force
This, to has nothing to do with payment of the death benefit. A policy could have been in existence for 50 years and if the beneficiary is changed the day before the insured dies, that's who is entitled to the death benefit unless there was some coercion involved.


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