You may need to be appointed the fiduciary of his estate because the proceeds will be paid to the estate. You should contact the insurance company for their policy regarding a situation such as yours.
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 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.
Whoever is the named beneficiary on the policy will collect the death benefit.
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 he put you in as the beneficiary, then Yes. Look at the policy and find where it says beneficiary to make sure.
Your beneficiary can collect benefits from your insurance policy if you commit suicide if, 1. Your policy provisions for payout in the event of suicide. 2. Your waiting period has been satisfied if stipulated by your insurance carrier and policy. Read your policy carefully and contact your policy carrier for assistance and clarity as it relates to your policy.
Life insurance is usually governed by beneficiary information on the policy. In other words, whoever the beneficiary is on the policy will the one to collect. You may want to consult a local lawyer to confirm this.
If the insurance policy is older than two years of contestability period, then a benefit will be paid to the beneficiary.
Yes, all life insurance companies allow the policy owner to name more than one beneficiary at any time.
The beneficiary is the only one that can collect benefits unless otherwise specified in the policy such as a rider.
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 the wife is not named as a beneficiary then she would have no claim on the policy proceeds.