I do not trust my daughter so I want to make my best friend beneficiary of my life insurance can I do this?
Total Comments: 6
Posted: Thu Sep 23, 2010 12:38 am Post Subject:
You can name anyone or anything the beneficiary of your life insurance and/or the executor of your estate. It does not have to be a family member, spouse, or child.
Posted: Thu Sep 23, 2010 09:40 am Post Subject:
You may choose anyone as your beneficiary...but make sure you get everything documented properly. This way you'd help to avoid confusion in the future.
Posted: Fri Sep 24, 2010 05:36 am Post Subject:
It does not have to be a family member, spouse, or child.
Yes, it doesn't have to be that way always. Life has it's own twists and turns..
Posted: Sat Sep 25, 2010 12:24 pm Post Subject: insurance
I tell people this.....(from my own personal experience). Make sure you list someone that you TRUST, for your Beneficiary. Alot of people (that I know, anyway..) just ASSUME you have to use a spouse/children as Beneficiary...when you don't have to.
Posted: Sun Sep 26, 2010 03:15 am Post Subject:
As long as the policy is in force you will have no problems changing the beneficiay. If this is a new policy, you must prove insurable insterest in naming your friend the beneficiary. If you cannot prove insurance interest, you can name someone like your daughter first, and then change it to your friend. Insurable interest is only required at policy issue.
Posted: Sun Sep 26, 2010 04:41 am Post Subject:
If this is a new policy, you must prove insurable insterest in naming your friend the beneficiary. . . . Insurable interest is only required at policy issue.
Insurable interest is only required between owner and insured at policy inception. There is no requirement for insurable interest to exist between the insured and beneficiary or owner and beneficiary.
Posted: Thu Sep 23, 2010 12:38 am Post Subject:
You can name anyone or anything the beneficiary of your life insurance and/or the executor of your estate. It does not have to be a family member, spouse, or child.
Posted: Thu Sep 23, 2010 09:40 am Post Subject:
You may choose anyone as your beneficiary...but make sure you get everything documented properly. This way you'd help to avoid confusion in the future.
Posted: Fri Sep 24, 2010 05:36 am Post Subject:
It does not have to be a family member, spouse, or child.
Yes, it doesn't have to be that way always. Life has it's own twists and turns..
Posted: Sat Sep 25, 2010 12:24 pm Post Subject: insurance
I tell people this.....(from my own personal experience). Make sure you list someone that you TRUST, for your Beneficiary. Alot of people (that I know, anyway..) just ASSUME you have to use a spouse/children as Beneficiary...when you don't have to.
Posted: Sun Sep 26, 2010 03:15 am Post Subject:
As long as the policy is in force you will have no problems changing the beneficiay. If this is a new policy, you must prove insurable insterest in naming your friend the beneficiary. If you cannot prove insurance interest, you can name someone like your daughter first, and then change it to your friend. Insurable interest is only required at policy issue.
Posted: Sun Sep 26, 2010 04:41 am Post Subject:
If this is a new policy, you must prove insurable insterest in naming your friend the beneficiary. . . . Insurable interest is only required at policy issue.
Insurable interest is only required between owner and insured at policy inception. There is no requirement for insurable interest to exist between the insured and beneficiary or owner and beneficiary.
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