my mother is in the

by konie6 » Sun Feb 22, 2009 11:07 pm
Posts: 1
Joined: 22 Feb 2009

my mother is in the hospital and changed her poa to me i was wondering how do we go about changing her life insurance beneficiary to me and my husband .it isn't much just enough to cover funeral expenses when the time comes.which according to the physician isn't long. how can we do this before she gets worse . right now she is aware of everything and wants it done but i dont know how to go about it . my is on it now and he is very abusive to her and this is the reason she wanted poa changed but she isn't in good health and we need to do it as soon as possible .

Total Comments: 20

Posted: Sun Feb 22, 2009 11:38 pm Post Subject:

Get a beneficiary change form from her agent or the closest office and have your mother sign it now that she still aware of everything. I hope your mom will get better.

Posted: Mon Feb 23, 2009 06:09 am Post Subject:

Who is the present beneficiary of the policy? You may face challenges from the current beneficiary regarding the status change.

Only the policy holder has the right to change the beneficiary name. And, your rights as the POA don't allow in making the changes in her policies, if not stated otherwise in the POA document. You may have to contact the agent to know the exact process of beneficiary change.

Posted: Tue Mar 10, 2009 08:55 pm Post Subject:

Yes, definatley have the insurance agent advise you on the beneficiary change but if you can not contcat the agent in time I would not hesitate to call the insurance company directly, infact it might be better to call them directly because if there are any specific stipulations the agent will have to call them to find out anyway. Skip the middle man and go directly to the source in the case.

Posted: Wed Mar 11, 2009 03:38 am Post Subject:

As a side note, also be advised that your POA will cease upon her passing. Many clients believe that they will be able to handle affairs based on the fact that they are power of attorney, but they don't realize the authority stops. A consultation with an estate attorney can be wise, even if there aren't very large assets.

Posted: Wed Mar 11, 2009 04:36 am Post Subject: insurance

As a side note, also be advised that your POA will cease upon her passing.

I thought the POA is the one that handles who gets what (ie..Life Insurance, Property,etc.).

Posted: Sat Mar 14, 2009 09:31 am Post Subject:

Hi konie6

Contact the life insurance company your mom has insurance with. Tell them your mom would like to change the name of the beneficiary. You will be required to put a request in writing. Is your mom in a condition to do that? Normally the insurance company has a form that the policyholder needs to fill out where he/she can mention the change of beneficiary and then the insurance company will take care of the rest.

Posted: Sat Mar 14, 2009 09:36 am Post Subject:

I have heard that if the beneficiary has been mentioned as irrevocable, then it will be hard to change the name unless the policyholder has the consent of the mentioned beneficiary. If whoever konie6 has mentioned to be on the policy is being bad to her mom, I hope he will agree to get his name replaced. Konie find out if it is an irrevocable beneficiary. However, hope your mom gets well

Posted: Sat Mar 14, 2009 11:02 am Post Subject:

Is her insurance company local, will they send an agent to the hospital for a meeting? I believe that some will.

Posted: Sat Mar 14, 2009 11:44 am Post Subject:

Hey, what is irrevocable policy? I'm aware of the term irrevocable life insurance trust, but irrevocable plan is a new term for me.

Would anyone care to explain the thing to me?

Posted: Sat Mar 14, 2009 12:52 pm Post Subject:

I thought the POA is the one that handles who gets what (ie..Life Insurance, Property,etc.).

no not necessarily...a power of atty allows the holder to handle certain things but not make the decision about distributing assets...unless a will has this in it...or there is a trust and they are trustee, or the executor of the will..

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