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No state law will require whom the beneficiary is on a life insurance policy. This is up to the owner of the policy. it may be changed by the owner of the policy if they choose to do so as well. Remember that the owner and the insured is usually the same person but they don't have to be. Such as with a minor child. A parent would want to be the owner of the policy while the child is the insured. This is the same with any policy. The owner has ultimate control over the policy and is the only one who can make changes or cancel the policy. The insured has no say after the policy is issued to do anything with it.
What else can I help you with?
Can you add anyone to your health insurance policy?
Yes, you can typically add immediate family members, such as a spouse or children, to your health insurance policy.
What is a spouse access endorsement?
A spouse access endorsement is a provision in an insurance policy that allows a policyholder's spouse to have access to certain benefits or coverages outlined in the policy. This endorsement typically ensures that the spouse can utilize the policy's benefits, such as health insurance or auto coverage, under specified conditions. It serves to provide additional protection and support for the spouse, often in circumstances like divorce or separation.
Can you add a non-spouse to your health insurance policy?
Yes, in many cases you can add a non-spouse to your health insurance policy, such as a domestic partner or dependent child. However, specific rules and eligibility criteria may vary depending on the insurance provider.
Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
How much money will you get back from life insurance if your spouse died after 30 years of marriage?
This depends on the policy. The best thing to do is to call the life insurance agent to ask about the specific policy in question.
If beneficary dies before the insured does surviving spouse have rights?
If the beneficiary of a life insurance policy predeceases the insured, the insured should make arrangements to name a new beneficiary. If they do not, the policy proceeds will become part of their estate if they die without naming a new beneficiary. You should consult with the insurance company.
Can anyone but the insured of a life insurance policy change the beneficary on a life insurance policy?
Yes, the policy owner can change the beneficiary. Sometimes, the person insured and the policy owner are not the same person, if someone else pays the premium for the insurance policy. For example, a parent or guardian taking an insurance policy on spouse or children. Some insurance policies are assigned to cover bank loans, and even if the insured may pay the premium, the bank can be assigned as the owner of the policy; in that case the bank decides who the beneficiary is going to be (usually in this scenario, the bank will also be the beneficiary).
If you and a spouse have different health insurance but have never designated one as primary or secondary could this cause problems when you do designate primary or secondary?
If you have insurance through your employer, and you are the policy holder,(the insurance is in your name) this insurance will be primary for you, and your spouses insurance policy will be secondary. The insurance policy thru your spouse's employer, (your spouse is the policy holder, or the insurance is in their name), this would be primary for your spouse, and your policy would be their secondary. Here's the phamplet from Medicare http://www.medicare.gov/Publications/Pubs/pdf/02179.pdf
The beneficiary died after the policy holder who is also deceased Who is the beneficary spouse or children from previous marriage?
When the policy holder dies, the money goes to the beneficiary. If the beneficiary then dies, THEIR beneficiary then gets the money.
Can a spouse change a life insurance policy without letting the other spouse know?
No
How do you add a spouse to your life insurance?
Your spouse can get a separate policy (usually cheaper) or you can contact your insurance company to get the right paperwork for adding your spouse. Adding your spouse as a beneficiary, your agent can help.
Can your ex spouse be on your insurance policy?
You can name anyone as beneficiary.
Do you have to list your spouse and your spouse's vehicles on your insurance policy?
No. Added: If it is an automobile policy or a 'blanket' policy that you intend to insure it with, yes, it will have to be listed. If the policy you refer to covers ONLY your vehicle, and no other, then no.
How can a person be a beneficiary of a life insurance policy if the spouse of the deceased is still alive?
In rare cases, a person will make a close friend or relative the beneficiary of their life insurance policy instead of their spouse.
Do you need to include your non driving unlicensed spouse to your car insurance?
If your spouse has no drivers license and does not drive, then no, you don't have to include them on your auto insurance policy. Actually, they have to have a drivers license before they can be added to the policy.
Can a spouse cash out life insurance policy without spouses signature?
Yes, a spouse can cash out their own life insurance policy in most cases. There may be some restrictions within the initial policy so this is an individual case basis.
Can you add anyone to your health insurance policy?
Yes, you can typically add immediate family members, such as a spouse or children, to your health insurance policy.
