his beneficiary

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PostPosted: Sat Mar 28, 2009 9:29 pm   Post subject: his beneficiary  

My husband put me as his beneficiary but I have recently learned that a week after naming me, he named his son as sole beneficiary. However he continues to lead me to believe that I am the sole beneficiary. Is this deception legal?

PattiMoorewhite
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PostPosted: Sat Mar 28, 2009 10:13 pm   Post subject:   

Unfortunately, while it is not very ethical and moral, it is legal. I say this on the premise that it was originally done as a revocable beneficiary policy.



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PostPosted: Sun Mar 29, 2009 3:40 am   Post subject:   

however, i dont see the big issue here. is your son a minor? if he is, are you the named guardian?

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PostPosted: Mon Mar 30, 2009 4:41 am   Post subject:   

As the members have stated the owner of the plan can indeed alter the beneficiaries name in his policy. He can't be legally challenged for this. However, how did you come to know about the beneficiary change? Were you asked to sign any consent form about it? Is his policy through his employer?



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Rupert

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PostPosted: Mon Mar 30, 2009 11:56 am   Post subject:   

Patti, you certainly have a problem with being able to trust your husband from here on out, and question everything he tells you...since he decided to lie about somethings so huge...what'd he figure, he'd be dead and gone you end up with zero, but you can't get your hands around his neck THEN..



There is nothing at all that can be done with this...your husband could change it you again bring the paperwork home to show you then change it back to he's boy the next day and you're none the wiser...this is far more than an insurance problem it's a marriage problem and more precisely a character problem on your husbands side...



what is his excuse?



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PostPosted: Wed Apr 08, 2009 10:26 am   Post subject:   

Quote:
Were you asked to sign any consent form about it?




But her husband would need her consent only in case she was an irrevocable beneficiary isn't it? Otherwise her husband has every right to change beneficiary and it takes only a few minutes maybe to fill up a form.



However, what I don't understand is why is her husband trying to lead her in to thinking that she is the beneficiary. This is really strange cause the underlying motive isn't clear. By the way OP, how did you find out that you are no longer on the list of beneficiary?


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PostPosted: Thu Apr 09, 2009 7:56 pm   Post subject:   

Quote:
However, what I don't understand is why is her husband trying to lead her in to thinking that she is the beneficiary. This is really strange cause the underlying motive isn't clear. By the way OP, how did you find out that you are no longer on the list of beneficiary?




The obvious answer is usually the correct one. The obvious answer is he shares a bed with her, so he wants to keep her happy, but when push comes to shove, his kids are more important than the new wife.
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PostPosted: Fri Apr 10, 2009 8:42 am   Post subject:   

The real answer to the question is in the answer of the question-

1. whether naming you as a beneficiary was more emphasized to take the credit?

2. Whether he forgot to tell you the truth or took you granted that you would not have any hesitaton?

3. Is your nature more insisting or demanding type?

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PostPosted: Sat Apr 11, 2009 1:50 am   Post subject:   

It's perfectly legal to change a revocable beneficiary without the consent nor knowledge of the currently designated beneficiary. Only in the case of an irrevocable beneficiary would consent be necessary.



Don't confuse the requirement to have a spouse sign off to change beneficiaries with qualified retirement plans, such as 401(k)s and similar plans. Law normally requires consent to name other than the spouse in those type of plans.



The policyowner need only contact the insurer or agent and make the change. Usually the owner has to sign a change of beneficiary form.



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PostPosted: Sat Apr 11, 2009 3:05 am   Post subject:   

Quote:
Usually the owner has to sign a change of beneficiary form.




Yeah right Teacher Smile that's exactly what I said too. There's nothing the OP can contest can she? If she has been the revocable beneficiary, her husband has every right to replace her name with that of his child or anyone else as he pleases.



I would like to ask the OP what she wants to do about it? I mean is there a question after
Quote:
Is this deception legal?
?



Well OP, legally it's not a deception. It's only the policyholder's whim.


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PostPosted: Sat Apr 11, 2009 3:19 am   Post subject:   

Quote:
The obvious answer is he shares a bed with her, so he wants to keep her happy, but when push comes to shove, his kids are more important than the new wife.




Wow! but did he think she was stupid??!! She found out anyway. Now what Question


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PostPosted: Sat Apr 11, 2009 11:19 am   Post subject:   

Hi,



Quote:
However, what I don't understand is why is her husband trying to lead her in to thinking that she is the beneficiary.


May be it's just to keep up the domestic peace.

I guess Lori is correct at stating it as a 'marriage problem' and more specifically as a 'character problem'. Well, at this stage we're still not aware of her husband's mental or health conditions. So, I guess all our replies would simply revolve around what we have in our hands.



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PostPosted: Sun Apr 12, 2009 3:48 am   Post subject:   

It's not our job to decide what, if any, problems exist between the OP and her husband. This is neither professional nor wise. She asked a question about the life insurance policy, and it has been answered.



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PostPosted: Sun Apr 12, 2009 4:34 am   Post subject:   

In my opinion, Insurance Expert hit the proverbial nail right on its tiny little head.



Hello Teacher, Lori. How have you guys been? It's great to see you again.



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PostPosted: Sun Apr 12, 2009 11:10 am   Post subject: hi  

its not good on behalf of you, but according to rule your husband has all the rights to change the beneficiary as per his own convinience and will.

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