by Guest » Fri Jun 19, 2009 10:36 am
I’m currently undergoing the process of divorce from my husband. I just want to make sure that he maintains life insurance on the kids. How can I make it sure? Can he violate the court order and change the beneficiary in the near future? Would my children then have the right to contest the beneficiary state whomever it is assigned to?
Thanks,
Sarah
Thanks,
Sarah
Posted: Fri Dec 21, 2012 05:30 pm Post Subject: life insurance on ex-spouse ?
During happy times in our marriage, my ex-husband and I took out life insurance policies on each other. We got divorced several years later. I still own a policy on his life, with myself named as beneficiary. The ex husband pays child support through 2016, so I clearly have an insurable interest right now.
The policy is a 20 year term which continues through 2021.
My question: Once my son "ages out" of child support, can the life insurance company refuse to pay me if the insured passes? Just wondering if I should allow the policy to lapse once I no longer receive child support.
Posted: Fri Dec 21, 2012 10:32 pm Post Subject:
My question: Once my son "ages out" of child support, can the life insurance company refuse to pay me if the insured passes? Just wondering if I should allow the policy to lapse once I no longer receive child support.
You may continue the policy regardless of your child's age, and if the policy is renewable, you may renew it -- no questions asked. Just a higher premium due to age. It will probably require your ex-husband to sign a renewal application. If it's convertible, you might also consider converting to a cash value policy.
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