0
Yes. Anyone can get a policy on another family member.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
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.
Can anyone contest a life insurance if you are not listed as a beneficiary?
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.
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.
Who can legally change the beneficiary on a life insurance policy?
The Insured can change the beneficiary on a life insurance contract.
How old does a beneficiary have to be for to receive payment from a life insurance policy?
at what age can a minor be insured in NY state for life insurance
Can a Will override the beneficiary on a life insurance policy?
No.
Are you a beneficiary of a life insurance policy?
yes
What happens if the beneficiary of a life insurance policy is not the spouse- does the spouse need to sign a spousal consent?
Are you referring to a group policy offered through work or an individually owned life insurance policy? For individual life insurance policies, the owner of the policy has complete control and can name anyone they like as the beneficiary, and the owner does not need spousal permission to do this.
If you purchase life insurance policy on your adult child naming myself as beneficiary can adult child change beneficiary?
The purchaser of an insurance policy names the beneficiary.
Does a beneficiary on a life insurance prevail over a will request?
Yes! The beneficiary on a life insurance policy does not have to be included in a will in order to receive the life insurance benefits.
How do you find out who the beneficiary is on a life insurance policy?
You can typically find out who the beneficiary is on a life insurance policy by checking the policy documents or contacting the insurance company directly. The beneficiary information is usually listed on the policy itself, in the beneficiary designation form, or in the insurer's records.
If you are not listed as a beneficiary on your fathers life insurance policy are you entitled to anything?
You are entitled to no proceeds from the life policy if the beneficiary or contingent beneficiary is still alive.
