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Can you buy a life insurance policy of any kind on your ex husband with yourself as the beneficiary?
Wiki User
∙ 13y ago
You may be able to obtain coverage on an ex-spouse if you are dependent on them for financial support. Many times during a divorce, you can get the court to require that the ex-spouse obtain life insurance....important to note is that if this is the case with you, insist that you are named the owner of the policy in addition to being the beneficiary as the owner can change the beneficiary.
I'm sure if your ex-husband meets an early demise this post alone will bring the police to your door. Anyway, no, you can't do that for the obvious reason.
This answer is not true. If you check reputable insurance sites on line you will see what my son told me (he used to sell insurance). You can, in fact, take out an insurance policy on someone else, as long as you can prove that you would be impacted financially by that person's death. The ex-husband scenario is only one of many which might conceivably be perfectly legitimate. Again, check reputable sites online--don't just ask friends and strangers in cyberspace!
I always advised my friends that were divorcing, especially the wife, to make sure her representative requires, by the court, that the ex purchase a life insurance police, term, on himself, naming the children as beneficiaries. I agree with answerer 1 above in that the wife should be named the owner, for she will receive the notice of non-payment whenever the ex does not meet his obligations. She can immediately contact the court and the court will cite him for contempt of court. And, of course, agreement with her as the owner, for she is the only one that can change the policy in any way.
I don't agree, however, entirely with answerer 2 above because a person cannot take out a life insurance policy on someone else just for the taking. There are rules, policies, and laws that have to be obeyed. I agree with the note on insurable interest but let me add that the intended insured must sign the application. He or she must also, usually, take a medical exam. All this is covered if you send for an information booklet from your state's insurance commissioner.
I also recommended to the wife that she make sure that her ex takes out an annuity rider but so that he can't claim any money in the future, she makes the payments into the annuity. She can deposit any extra money she comes into, be it a 10 bill on the street, and IRS check, or part time employment money. She is building her own next egg for her future. If the ex does not die before the children are 18 (22 in some states), then there is no money for their futures because they will be automatically removed from the policy. Space limits any more here. State insurance commissioner. Got for it!
Wiki User
∙ 13y ago
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Can a wife have some other than her husband be her life insurance beneficiary in the state of ct?
Sure. The owner of the policy is the only person that can decide who the beneficiary of the life insurance policy is. The owner can also change the beneficiary whenever they want to. This should be standard in every state.
Can you have a secondary beneficiary on your life insurance?
Yes, you can have a secondary beneficiary on your life insurance policy. If the primary beneficiary is no longer living when you pass away, the secondary beneficiary would receive the proceeds from your life insurance policy.
What type of policy can a owner and beneficiary be the same?
In any life insurance policy, though there is provision for appointment of nominee, on maturity the proceeds will be payable to the policy holder if he/she is alive. By this way, the owner of the policy and the beneficiary is the same person.
What does it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
Can someone other than the owner of a life insurance policy change the beneficiary?
You might wanna check the company of life insurance you have but i think they can't.
Can your ex husband cash in on a life insurance policy on you after 35 years?
If he is showing as the beneficiary on your policy - yes. You can call the insurance company or your agent to change the beneficiary.
Am i the beneficiary of my husband's life insurance?
If he put you in as the beneficiary, then Yes. Look at the policy and find where it says beneficiary to make sure.
Can husband collect life insurance if wife dies unexpectedly?
If the husband was the named beneficiary of the policy, if the policy was in force at the time of death, and if the cause of death was not excluded by the policy, the general answer is "Yes". If the beneficiary was the estate of the wife, the proceeds are paid to the estate. Then, if the husband was a beneficiary of the estate (either by virtue of a Will naming him as beneficiary, or if no Will, through the laws of intestate succession), he may be entitled to all or a part of the insurance proceeds. If the beneficiary of the life insurance policy was someone other than the husband as of the time of the wife's death, proceeds are payable to that person.
How can second divorced wife collect deceased husbands insurance policy when first deceased wife of husband is still named beneficiary?
In order to ensure that a wife collects her deceased husband's insurance policy, it is beneficial to transfer the beneficiary of the policy while the husband is still alive. If the beneficiary of the policy is also deceased, it would be wise to seek legal help.
Can you have a husband and a child as a beneficiary on a life insurance policy?
Yes, all life insurance companies allow the policy owner to name more than one beneficiary at any time.
Can your ex-husband keep a life insurance policy on you?
Yes he can. There are three important factors about an insurance policy. The owner, the insured, and the beneficiary. He can be either the owner or the beneficiary if you signed off on it. I would check to see if you are either of those and if you are the owner then you can cancel the policy. If you are the beneficiary then you would be fine.
Is wife entitled to deceased husband insurance policy if she is not named on it?
If the wife is not named as a beneficiary then she would have no claim on the policy proceeds.
Can a wife have some other than her husband be her life insurance beneficiary in the state of ct?
Sure. The owner of the policy is the only person that can decide who the beneficiary of the life insurance policy is. The owner can also change the beneficiary whenever they want to. This should be standard in every state.
Can a husband change his wife as beneficiary on a work life insurance policy without her signature in the state of PA?
it usually depends on the company the policy is with. but usually you dont need a signature to change a beneficiary.
I took out life insurance on my husband in 1988 we divorced 10 years later. I have been paying it ever since. He has married again. If he dies who will be able to claim on the policy.?
Are you the owner of the policy? If so, you are the only person authorized to change the beneficiary on the policy. If you are not the owner of the policy, your ex-husband can change the life insurance beneficiary regardless of the fact that you have paid the premiums.
Can you have a secondary beneficiary on your life insurance?
Yes, you can have a secondary beneficiary on your life insurance policy. If the primary beneficiary is no longer living when you pass away, the secondary beneficiary would receive the proceeds from your life insurance policy.
Who is the beneficiary for your life insurance?
The beneficiary of a life insurance policy is the person or entity designated by you when you apply for the policy and when it is issued by the insurer.
