Posted: Thu Jun 12, 2008 2:29 pm Post subject: life insurance beneficery contest
My father recently passed away and since his death I found out that he left his life insurance policy to my sister and myself. He did not change his policy since the birth of my other two siblings. Can my brother contest the pay out to either one or both of us?
Sure he can contest it...but a better question (IMO) is why knowing this ("He did not change his policy since the birth of my other two siblings") Would you not want to just do the right thing and include them? On your own without forcing the other two siblings to do this? _________________ 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!
If you and your sister are the only beneficiaries of the life insurance policy, I don't think your brother can contest the payout of the life insurance premium. Only you and your sister are in titled to the proceeds. But of course, it is on your own on how to use the money. The best thing is to use it not only for your self but also for the benefit of your siblings. _________________ Free Insurance Quotes
Posted: Wed Jul 02, 2008 7:22 pm Post subject: ex wife benefiting from life insurance
can a divorce decree mandate that my husband keep his ex-wife as the beneficiary for his governmental life insurance...After reviewing the decree, I'm unsure if she's entitle to his life insurance.. He stated that she's not the beneficiary and he has changed it to me, but looking at the decree I am unsure...Please help _________________ Register Now to have your Insurance queries solved.
can a divorce decree mandate that my husband keep his ex-wife as the beneficiary for his governmental life insurance
Absolutely it can...you can put about anything in a divorce settlement if both partys agree then there you go...he'd better live up to it...If he has changed the beneficiary to you he had to fill out a change of bene. form (isn't that right agents?)...Ask to see a copy of it... Also ask to see the divorce papers...It should be well laid out that he must maintain 'x' amount of life ins with her as bene probably though only till their kids reach adulthood.. _________________ 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!
can a divorce decree mandate that my husband keep his ex-wife as the beneficiary for his governmental life insurance...
Lori is right, today....the divorce decree can put any clause in the decree and can mandate your husband to follow it.
Is you husband liable for the child support? if so then he's required to maintain the policy in his ex-wife's name in it till the child attains the adulthood. This is to ensure the child's security at the event of the death of his father's pre-matured death. _________________ Register Now to have your Insurance queries solved.
If you and your sister are the only beneficiaries of the life insurance policy, I don't think your brother can contest the payout of the life insurance premium. Only you and your sister are in titled to the proceeds. But of course, it is on your own on how to use the money. The best thing is to use it not only for your self but also for the benefit of your siblings.
Hi zhan, you're absolutely right in saying that all depends on 'how you want to use the money' and it'd be nice to give the proper shares to the other siblings.
Thanks for sharing your views with us. We're really looking forward to hear more form you, between, why don't you introduce yourself to the community? I'm sure that you'll receive a warm welcome from the community. Also it gives us the opportunity to each other better
What the father could have done, of course he might not know how to do it then, was to name his 2 daughters and FUTURE children as beneficiaries.
Then all the children would have equal share of the policy proceeds. _________________ I am an insuranc sales coach for almost 2 decades. I have a collection of insurance agents' sales stories. To know more, you can visit http://www.stories-connect.com or http://xoseph.wordpress.com
What the father could have done, of course he might not know how to do it then, was to name his 2 daughters and FUTURE children as beneficiaries.
Yes, I've seen many who haven't take much care to plan their finances during their lifetime, and thus cause a lot of trouble for the people (s)he is living behind.
The insurance need of an individual changes as his life's requirements keep changing, but most of us don't take care in reviewing our insurance needs time and again.
I would hope that all agents selling life policys to couples that are still in their 'child producing years' would encourage them to put something like, ''all children of this marriage share and share alike'' that's what we did when we were young on the advise of our agent...life takes over other children come, you forget that the new kids aren't on that policy you bought when you were 25 and before you know it your seventy, dead, and the kids are fighting, because they (rightfully so) feel slighted...sad...and sooooooooo preventable. _________________ 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!
Posted: Tue Oct 14, 2008 12:34 pm Post subject: i am the designated beneficiary on life insurance
when the death benefit claim form was sent in , we didn't know who the beneficiary was and assumed it was the deceased brother, since he is not and i am the insurance co. has sent him a form allowing him the ability to contest, which he plans to do if i don't split the insurance with him , any advice and what is involved in a contested claim _________________ Register Now to have your Insurance queries solved.
Well, it might be a good idea for you to give him half, since he's the named beneficary he could very easily walk with all of it...half of something is better than nothing of everything...IMO you should split it four ways...don't you REALLY think that would've been dad's intent? Don't you think maybe that is the ''right'' thing to do? _________________ 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!
Also ask to see the divorce papers...It should be well laid out that he must maintain 'x' amount of life ins with her as bene probably though only till their kids reach adulthood..
I'm sure that you'll receive a warm welcome from the community. Also it gives us the opportunity to each other better 
