Insurance
Life Insurance

Can you buy a life insurance policy of any kind on your ex husband with yourself as the beneficiary?

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2010-09-22 07:51:12
2010-09-22 07:51:12

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!

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Related Questions


If he is showing as the beneficiary on your policy - yes. You can call the insurance company or your agent to change the beneficiary.

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.

Yes, all life insurance companies allow the policy owner to name more than one beneficiary at any time.

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.

If the wife is not named as a beneficiary then she would have no claim on the policy proceeds.

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.

There is no age restriction for a beneficiary on a life insurance policy.

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.

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.

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.

it usually depends on the company the policy is with. but usually you dont need a signature to change a beneficiary.

Yes, there is no bar in the insured person being beneficiary on another insurance policy.

Whoever is the named beneficiary on the policy will collect the death benefit.

The Insured can change the beneficiary on a life insurance contract.

Yes. However, who will be the owner of the policy? The husband would have to sign the application and take the exams.

If the husband is the policy "owner", and the children are listed as "revocable" beneficiaries, then the change can be made. However, you can be sure [that] when the husband dies, the new beneficiary designation will be challenged. Think carefully about this before you act. Perhaps , assuming the husband is insurable, a new (additional) policy should be purchased naming the new wife as the primary beneficiary.

if someone died and left an insurance policy and named me beneficiary how can i find out

Beneficiary = benefits from Benefits from the execution of a will / payout from an insurance policy etc.

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.

Sure it is legal. Can't you be the beneficiary of your Dad's life policy and own one on your wife, yourself and your kids too? You could also be the beneficiary of your dad's policy and own it too!

Yes, if the owner of the policy does not file a change of beneficiary the insurance will have to pay the proceeds to the person who is named on the policy.

You are entitled to no proceeds from the life policy if the beneficiary or contingent beneficiary is still alive.

The owner of the policy can change the beneficiary of the policy. If the original beneficiary has died before the insured, the owner of the policy can designate a new beneficiary at any time.

If no beneficiary is listed on a life insurance policy then the benefits are payable to the insured's estate. The beneficiary can be changed at any time prior to the death of the insured if this is the person's desire.


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