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If by "retirement insurance" you mean a qualified retirement account covered by ERISA, then the retirement account had to provide that the surviving spouse is the beneficiary, unless the surviving spouse consented to a different designation (such as to the daughters). So the claim is not under community property law, but rather federal ERISA law. I'm not sure about California in particular, but in at least one community property state, you might have a claim for fraud against the community if your husband caused community assets to pass to someone other than you. It would be a difficult claim, though, because an exception to the fraud on the community claim is a "natural" disposition of the property. And it is natural for a father to leave assets to his children.
What else can I help you with?
Is an employee a beneficiary?
An employee is not typically considered a beneficiary in the legal sense. A beneficiary is someone designated to receive benefits or assets from a trust, will, or insurance policy. However, employees may become beneficiaries of certain company-provided benefits, such as retirement plans or insurance policies, where they can receive payouts or distributions upon specific events, like retirement or death of the insured. In this context, employees can be beneficiaries of specific plans, but they are not beneficiaries by virtue of their employment alone.
Can I have two primary beneficiaries for my insurance policy?
Yes, you can have two primary beneficiaries for your insurance policy.
Texas is a community property state. Your husband named his sons as beneficiaries on his life insurance policy. Is the surviving spouse entitled to any portion of the proceeds?
Life insurance is a complex issue in community property states. Even if your husband has named beneficiaries, you may be entitled to an interest in the proceeds. See the link provided below for a very informative publication that you can read in its entirety. There is a section regarding beneficiaries other than the spouse.
Can more beneficiaries increase your fdic insurance?
FDIC insurance is the insurance that covers your money in a bank up to a specific amount for all of your accounts. It has nothing to do with beneficiaries.
Think About Your Investments When Buying Life Insurance?
Most people buy life insurance policies to protect their beneficiaries. However, it's important to realize that after a certain point in time, a life insurance policy--and especially a term life insurance policy--may not be necessary. If you have investments like an IRA, 401k, or other retirement account, that may sufficiently protect your beneficiaries after your death. Try to buy a term life insurance policy that will provide protection until your investments are fully matured. You'll pay less for your life insurance while developing a strong long term financial strategy that will keep your beneficiaries well protected for years to come.
What are types of beneficiaries of an insurance policy?
Primary and Secondary
Who gets the money from life insurance?
The designated beneficiaries.
Which of types of beneficiaries in an insurance policy?
primary and secondary
What is the best reason to choose life insurance over annuities for financial protection?
The best reason to choose life insurance over annuities for financial protection is that life insurance provides a death benefit to your beneficiaries in case of your passing, while annuities primarily focus on providing income during retirement.
Who receives life insurance money if no benificiary is named?
If no beneficiaries are named on a life insurance policy, or all named beneficiaries are deceased, then benefits will be paid to the insured's estate.
What is the difference between annuity and life insurance?
An annuity is a financial product that provides regular payments over a set period of time, typically in retirement. Life insurance, on the other hand, provides a lump sum payment to beneficiaries upon the death of the insured person.
Can a life insurance policy have more than 1 beneficiary?
Yes, you can have multiple primary beneficiaries, and contingent beneficiaries.
