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My husband had joint life policy with exwife after they divorced he was the only one paying premiums and only his life was insured he died in this year and am i beneficiary of this life policy or exwi?
Wiki User
∙ 14y ago
Um... if he was definatley then only one paying premiums after the divorce, then you should be ritefully incharge of the insurance. Because A she and him were divorced, and B she didn't pay the policy fees. Ur welcome
Wiki User
∙ 14y ago
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Does beneficiary have to be notified by agent or insurance company for nonpayment of life policy premiums that ex-husband did not pay?
The company or agent is not required to notify any of the beneficiaries. Usually only the owner/insured are notified.
Can a beneficiary on life insurance refuse the responsibility?
It is not a question of refusing responsibility. The beneficiary is the person or institution designated to receive proceeds upon the death of the insured. He/she/it has no obligation to pay future premiums. However, the beneficiary is free to decline the proceeds in which case they will be paid to a contingent beneficiary listed in the policy; in none, the proceeds will be paid to the insured's estate.
Does the beneficiary have to pay bills left by the insured?
Beneficiary's obligationThe beneficiary has no legal obligation to pay the bills solely in the name of the insured.
What if no beneficiary is named on a life insurance policy and they have a spouse what happens?
If an insured has a policy where there is no named beneficiary, or the named beneficiary is deceased, then the benefit will be paid to the insured's estate.
What happens to insurance when beneficiary dies before insured person?
generally nothing. Insured person can name another beneficiary.
What happens if the beneficiary of a life insurance policy is deceased?
Generally, if the beneficiary is deceased, the proceeds go to the contingent beneficiary, or if none, to the estate of the insured. An attorney must be consulted to direct you on how to handle this in your state. It depends on whether the beneficiary predeceased the insured. If the beneficiary died before the insured then the proceeds go the the contingent beneficiary. If there is not a contingent, check the contract, it probably is paid to the Owner of the Estate of the Insured. If the Beneficiary died after the Insured, the proceeds go to the Beneficiary's Estate. It is important to have a contingent beneficiary specified in your life insurance policy. This way, if the beneficiary passes away, the contingent beneficiary will benefit. If there is no contingent beneficiary, and the beneficiary has deceased, the proceeds of the life insurance policy, go to the estate and is distributed according to the Will.
Will the insurance company pay the beneficiary if the beneficiary kills the insured?
Not if they found out.
In Pennsylvania can a wife purchase a life insurance policy for her husband with herself as beneficiary without his knowledge or signature?
No. You must have the signature of the insured person.
Can an insured person also be the beneficiary on an insurance policy?
Yes, there is no bar in the insured person being beneficiary on another insurance policy.
Does a secondary beneficiary only receive funds from a life insurance policy if the primary beneficiary has already passed?
Yes. A secondary beneficiary only becomes beneficiary if the primary beneficiary dies before the insured. Say the insured and primary beneficiary are involved in a fatal auto accident but the insured dies an hour before the primary beneficiary. The insurance proceeds would not go to the secondary beneficiary but to the estate of the primary beneficiary. If the primary beneficiary dies an hour before the insured then the secondary beneficiary receives the proceeds. If an insured wants both to receive monies they can name more than one person as primary beneficiary and in what percentage for each person. They could also leave it to their estate and handle distribution by a will.
What is the purpose of policies?
An insurance policy is a contract between an insurance company and the person purchasing the policy (or the insured). The policy costs a specified amount and if all premiums are paid in a timely manner, once the insured has died, their beneficiary (who whomever they name) will be paid a sum of money.
What is the purpose of insurance policies?
An insurance policy is a contract between an insurance company and the person purchasing the policy (or the insured). The policy costs a specified amount and if all premiums are paid in a timely manner, once the insured has died, their beneficiary (who whomever they name) will be paid a sum of money.
