Law Advice

Beneficiaries

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FAQs

Can I name any beneficiary I choose on my life insurance policy?
My friend was a beneficiary on her ex-husband's life insurance policy. In trying to collect for funeral expenses, she was told her divorce released her automatically as a beneficiary. Why?
Should a minor child be named as a beneficiairy of life insurance proceeds?
I purchased a life insurance policy to be used for my childrens' college education. I don't know how to safely designate how the money should be given out. Can I just name an executor?
If an insured designates a specific person as the irrevocable beneficiary of a life insurance policy, does the designee acquire a vested interest in the policy?
Does a life insurance beneficiary description reading ‘to my wife, joan’ remain payable to her even though we are divorced?
I have a large term-life policy in which my sister and brother-in-law are sole beneficiaries. They pay the annual premium on my behalf. Are there any tax consequences if they remain beneficiaries, or joint owners, of the policy? Should I inform the insurance company that my beneficiaries are paying the premium?

Life Insurance Claim Denied or Delayed? Click here for a FREE Case Evaluation or call 1-800-734-0764.

Topics Found in Insurance Law