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Insurance Law - Life Insurance Law - Beneficiaries
FAQs
Can I name any beneficiary I choose?
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 have a large term-life policy in which my sister and brother-in-law are sole beneficiaries. On my behalf, they are paying the annual premium. Are there any tax consequences if they remain (1) beneficiaries or (2) joint owners of the policy? Is it necessary to inform the insurance company that my beneficiaries are paying the premium?
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?
After my father died, we found 2 life insurance policies which my mother collected on. We have reason to believe someone may have had an additional insurance policy and collected the benefits. Is there any way to find out if there was an insurance policy, what was the company, and who collected the benefits?
In 1993 I was made beneficiary of a prepaid life insurance policy. Two years later the policy owner died and I had moved and forgot all about it. How do I find out if I am entitled to the payout of the policy after all these years?
We are missing the statement of beneficiary from my father's life insurance policy. As a consequence, the insurance company wants to pay the benefits to my father's estate. Is it not the responsibility of the insurance company to make sure that beneficiaries are designated for the policies they sell?
If an insured designates a specific person as the irrevocable beneficiary of a life insurance policy, does the person so designated 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?
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