by insuran » Wed Mar 05, 2014 11:46 am
Hello everyone i am a new person in this forum i am asking for some help if possible.
Well my wife is the older daughter at her mother and she does have a younger sister...so my wife's mom filled a life insurance policy 2 years ago and she did put as a beneficiary in her life insurance policy my wife's younger sister but nowadays my wife's mom became unable to pay this policy and she asked some help from her younger daughter which she refused and my wife which is the older daughter decided to pay it for her but her mom told her that she doesn't know how to change the beneficiary or even if she could do it...so my wife decided to see if she could get her another whole life policy since she is the older daughter and if her mom died the funeral and everything would be on her shoulders from what i understand and her younger sister would get a hand on the other policy that her mom paid for it and set her as a beneficiary and my wife doesn't want this to happen...so if you please can you give me any ideas or solutions or any ways to get where we can change the beneficiary on that policy and get a new one or is there any other paths to take ????
Thanks
Well my wife is the older daughter at her mother and she does have a younger sister...so my wife's mom filled a life insurance policy 2 years ago and she did put as a beneficiary in her life insurance policy my wife's younger sister but nowadays my wife's mom became unable to pay this policy and she asked some help from her younger daughter which she refused and my wife which is the older daughter decided to pay it for her but her mom told her that she doesn't know how to change the beneficiary or even if she could do it...so my wife decided to see if she could get her another whole life policy since she is the older daughter and if her mom died the funeral and everything would be on her shoulders from what i understand and her younger sister would get a hand on the other policy that her mom paid for it and set her as a beneficiary and my wife doesn't want this to happen...so if you please can you give me any ideas or solutions or any ways to get where we can change the beneficiary on that policy and get a new one or is there any other paths to take ????
Thanks
Posted: Sat Mar 08, 2014 12:45 am Post Subject:
There is probably no need for a new life insurance policy, as long as the cost will not change over time, but all of the past due premiums need to be paid ASAP!!
You contact the insurance company for a BENEFICIARY CHANGE FORM. It must be completely filled out, including Social Security Numbers of beneficiaries if requested, then it must be signed and dated by the policyowner (probably your wife's mother), and finally it must be delivered to the insurance company. Send via any TRACKABLE service to be able to verify the company received the form.
The change should be effective the date the form was signed.
If you require someone to provide more "hands on" assistance, please contact me by clicking on the PM or EMAIL buttons below.
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