by cfoster39 » Mon Mar 02, 2009 10:59 pm
For instance my step son is an agent he had his father to name him as a primary beneficiary also because he has an interest in seeking their home once his father has died.
Posted: Mon Mar 23, 2009 11:32 am Post Subject:
It would seem to me that the 'Conflict of Interest' thing would come into play here (maybe?).
It ''could'' but shouldn't...if the son was going to be the beneficary on dad's policy even if he was a ditch digger...then certainly no conflict...do you see what I mean...now if there are other children, a wife, whatever and they are being edged out...totally different...as an example what if your boy grows up and becomes an agent? As a good mother you'd switch your ins to him, then you'd likely buy a life policy from him as well...You would list him as beneficary, because he is your only child and your only heir, and you want him to get everything when you're gone right? So where is the conflict? There is none, because he is (or will be when he's an adult) the beneficary on everything you have anyway...Posted: Tue Mar 24, 2009 05:14 am Post Subject:
it totally depends on the policy holder whom he want to be primary beneficiary but it should be on utmost good faith.insurance is done to save from financial losses not for money making.so keep in mind what the policy holder wants he should not appoint any one as primry beneficiary due to pressure.Primary beneficiary is agent himself,its not the problem i think because beneficiary has legal relationship with policy holder
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