Is the time insurance valid?
My partner and I have lived together 15 years. His wife refuses to sign divorce papers, even though they broke up 17 years ago. He have a life insurance policy for her to receive benefits on his death. He get a life insurance policy for me to receive benefits on his death.
Someone said I can't bring back a life insurance policy payment in need the wife signing off on it. Is that true?
Answers:
he can have as frequent policies as he wants with whoever he requests as a beneficiary (as long as there is insurable interest). If he wanted you to hold the other policy, he would have changed the beneficiary on it from her to you.
MORE:
Also, since he has legaly be married to her for over 17 years, she has all permissible claims to his retirement money & any pensions that he has. After 10 years of marital, there is pretty much no way to correct that without her consent. 10 years is the golden ticket for retierement plans, including social security.
Since he never divorced her, even though you enjoy been living with respectively other for 15 years, you will only be legaly seen as the mistress & entitled to nil more, except the new life policy.
I don't know what state you live in but you can draw from a divorce in every state I know of without the other get-together signing the papers. All states have no-fault divorce.
He can change the beneficiary on the policy naming his wife if he requirements to. He can name whoever he wants on any policy as the beneficiary. Once you entitle a beneficiary, you are still free to change it to someone else if you want.
Your partner can name whomever he wishes in an insurance policy. Two policies - two different beneficiaries is perfectly endorsed, and one has nothing to do near the other.
And if he really wanted to, he could probably change the beneficiary on the first policy.
Talk to your insurance agent.
your partner have a right to own insurance on his life and designate whomever he chooses as his beneficiary. death benefits from social warranty, employer owned life insurance or other benefits not owned and controlled by your partner may require his spouse's signature. i would make sure that you are indeed the beneficiary on the enthusiasm policy. you could also be made the owner which would give you complete control of it. Source(s): licensed agent for many years
Nope, not true.
It's ALSO not true that his wife needs to sign the papers contained by order for him to get divorced.
He can divorce her lacking her permission or consent.
Also, if he OWNS the policy that she is the beneficiary on, he can CHANGE that beneficiary clause to you or the kids or even me if he wants to. Nothing stopping him.
I'd see a guess that this guy doesn't want to be divorced from his wife. Source(s): agent, 21+ years
that's a lie! he can cross anyone as a beneficiary! if you are just the girlfriend and you two broke up, then he rework the beneficiary anytime he wants to. unless you kill him back he does. Source(s): Life insurance with cash advantage don't pay out cash expediency when you die! They say its a good track to build savings! How is that so if you lose it all and it doesn't travel to anyone when you die? People say you can borrow it. Why do I want to borrow my own money that I paid for? Cash good point = scams!
sounds approaching your partner is playing games. he knows that he can change the name of the beneficiary anything irregardless of whether or not you are married. the only thing though is that if the wife is not on the policy and they are still legitimately married, the wife has the power to go to court and stop the other woman from getting anything. he did the subsequent best thing by opening another policy minus the wife knowing.
Keep your mouth quiet on this one, and just collect smoothly if he dies, otherwise, here comes the legal wife.
he can bring in who ever he wants a beneficiary
That is not true. When it come to naming beneficiary in life span insurance, your partner can name anyone. Some people moniker their pets as beneficiaries. Though, I think some life insurance companies have crack down that a beneficiary has to be a human or a trustee or an estate, not an animal or pet. Source(s): http://finance1o1.blogspot.com
Related Questions:
Someone said I can't bring back a life insurance policy payment in need the wife signing off on it. Is that true?
Answers:
he can have as frequent policies as he wants with whoever he requests as a beneficiary (as long as there is insurable interest). If he wanted you to hold the other policy, he would have changed the beneficiary on it from her to you.
MORE:
Also, since he has legaly be married to her for over 17 years, she has all permissible claims to his retirement money & any pensions that he has. After 10 years of marital, there is pretty much no way to correct that without her consent. 10 years is the golden ticket for retierement plans, including social security.
Since he never divorced her, even though you enjoy been living with respectively other for 15 years, you will only be legaly seen as the mistress & entitled to nil more, except the new life policy.
I don't know what state you live in but you can draw from a divorce in every state I know of without the other get-together signing the papers. All states have no-fault divorce.
He can change the beneficiary on the policy naming his wife if he requirements to. He can name whoever he wants on any policy as the beneficiary. Once you entitle a beneficiary, you are still free to change it to someone else if you want.
Your partner can name whomever he wishes in an insurance policy. Two policies - two different beneficiaries is perfectly endorsed, and one has nothing to do near the other.
And if he really wanted to, he could probably change the beneficiary on the first policy.
Talk to your insurance agent.
your partner have a right to own insurance on his life and designate whomever he chooses as his beneficiary. death benefits from social warranty, employer owned life insurance or other benefits not owned and controlled by your partner may require his spouse's signature. i would make sure that you are indeed the beneficiary on the enthusiasm policy. you could also be made the owner which would give you complete control of it. Source(s): licensed agent for many years
Nope, not true.
It's ALSO not true that his wife needs to sign the papers contained by order for him to get divorced.
He can divorce her lacking her permission or consent.
Also, if he OWNS the policy that she is the beneficiary on, he can CHANGE that beneficiary clause to you or the kids or even me if he wants to. Nothing stopping him.
I'd see a guess that this guy doesn't want to be divorced from his wife. Source(s): agent, 21+ years
that's a lie! he can cross anyone as a beneficiary! if you are just the girlfriend and you two broke up, then he rework the beneficiary anytime he wants to. unless you kill him back he does. Source(s): Life insurance with cash advantage don't pay out cash expediency when you die! They say its a good track to build savings! How is that so if you lose it all and it doesn't travel to anyone when you die? People say you can borrow it. Why do I want to borrow my own money that I paid for? Cash good point = scams!
sounds approaching your partner is playing games. he knows that he can change the name of the beneficiary anything irregardless of whether or not you are married. the only thing though is that if the wife is not on the policy and they are still legitimately married, the wife has the power to go to court and stop the other woman from getting anything. he did the subsequent best thing by opening another policy minus the wife knowing.
Keep your mouth quiet on this one, and just collect smoothly if he dies, otherwise, here comes the legal wife.
he can bring in who ever he wants a beneficiary
That is not true. When it come to naming beneficiary in life span insurance, your partner can name anyone. Some people moniker their pets as beneficiaries. Though, I think some life insurance companies have crack down that a beneficiary has to be a human or a trustee or an estate, not an animal or pet. Source(s): http://finance1o1.blogspot.com
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