by us4and » Tue Jun 30, 2009 10:49 am
when insurance companies pay out do they check out all previous beneficaries and why . person left insurance to parent and the insurance wanted a copy of divorce papers of a divorce several years ago. also in another case person had power attorney is it possible they changed papers and made themselves a beneficiary . how would one know ?
Posted: Tue Jun 30, 2009 10:52 am Post Subject: life insurance payouts
why would insurance companies want to know about previous beneficiaries when a policy has been changed and why dont they check themselves ? can insurance policies be contested ?
Posted: Tue Jun 30, 2009 11:25 am Post Subject:
Hi US4and,
Have you asked them in return why they need to check with the previous beneficiary when they have a present one?
can insurance policies be contested ?
It can be, depending upon circumstances. Has it been contested? That may give some idea why checking with the previous beneficiary has become necessary.
~Jeremy
Posted: Tue Jun 30, 2009 01:50 pm Post Subject:
Hi US4and..
when insurance companies pay out do they check out all previous beneficaries and why .
Did an adjuster ask you for the previous beneficiaries?
Or is it that you've come across experiences shared by others over the internet?
also in another case person had power attorney is it possible they changed papers and made themselves a beneficiary .
I don't think thats possible so easily. Which state does this person belong to?
We'd probably need to go through the state laws regarding the provisions for a beneficiary change.
Steven
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