Yes, it can be covered in the divorce agreement, from what I have been told. Working in physician's offices, I've seen it on health insurance plans. Personally, I have also known women who are still covered under their ex-husband's health insurance as a part of their divorce agreement. Different insurances might have different rules, so you should always check with your insurance company first before doing anything else.
Sure, once it is issued you can keep it. Especially if there are children involved, it might be a good idea.
Yes - if the insurance company will allow it. Some medical insurance companies will not.
You must keep the life insurance policy that was discussed in the divorce until your ex remarries. But there is nothing to keep you from buying a new policy and making your new wife ITS beneficiary. That has nothing to do with the divorce decree.
You cannot. In case of any claim after your divorce and the policy bond is in your possession, the claim will be summarily rejected by the insurance company. It's advisable to surrender the policy on your ex husband to the insurance company against official receipt.
The circumstances can vary greatly here. It will depend on what the conditions of alimony are, for one. If the ex-husband isn't required to keep the ex-wife as a beneficiary on a life insurance policy, and decides to remove the ex-wife, then the ex-wife will receive nothing.
== == Yes. You only have to show "Insurable Interest" when the policy is taken out. What if there are children involved or spousal support to be paid?
Do I have to pay tax on my exhusband's life insurance if I am also the benificary of the policy?
The Florida Probate Code In Florida, divorce does not remove the ex-spouse as beneficiary under a life insurance policy. Florida takes the position that the life insurance policy is a contract and should not be interfered with unless fraud is involved. Check your insurance policy to be sure who you have named as beneficiary. Do not rely on the numerous statutory probate codes to determine who will get the insurance proceeds. If you want to change the beneificary of your life insurance policy and the divorce decree is final, complete a new beneficiary form, keep a copy and send it to the insurance company.
It is the responsibility of the person holding the life insurance policy to keep the beneficiary data updated as necessary. In the scenario in the question, the ex girlfriend was listed as the beneficiary ... and will be awarded the proceeds from the policy. Unfortunately, there is little the spouse can do to stop that. The beneficiary designation is binding and will hold up in a court of law.
You can only collect on the life insurance if you were awarded this at time of divorce. I was awarded the ability to take out a life insurance policy on my ex. as I receive a military retirement which only exists if he is alive. After his death, it would stop, therefore I have the life insurance policy.
No, only the policy owner (usually the insured) can decide who the beneficiary is on a life insurance policy. Life insurance has nothing to do with a will or estate distribution after someone's death. That's why it is imperative to keep the beneficiary section updated constantly based on the life changes; too many people who get divorced forget to update their life insurance beneficiary on the policy and benefit may go to the ex-spouse. Life insurance companies are bound by the contract that is the life insurance policy to only pay the beneficiary specified on the policy. If all beneficiaries specified on the policy are deceased, then the benefit will be paid to insured's estate.
If I m listed on my ex husbands employee life insurance after 10 years can i keep it. Check was issued to me
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.
If he is showing as the beneficiary on your policy - yes. You can call the insurance company or your agent to change the beneficiary.