0
How can the insurance co make a payment to someone else if you are the beneficiary of a life ins?
A life insurance policy has an owner, who is the person who is buying the insurance, as well as a designated beneficiary. Some kinds of life insurance, called whole life, have value as an investment and can be cashed out by the owner if he or she so desires (unlike term life which has only a death benefit and no cash value prior to the death of the insured). Now, you haven't said who this other person is who has received a payment from the insurance company. If it is someone other than either the policy owner or the beneficiary, the only other scenario I can imagine is that someone filed a lawsuit claiming that there was some kind of fraud going on, and that he (or she) is the actual owner or beneficiary of the policy, and not you. If the judge agrees, then the insurance company must comply.
What else can I help you with?
Could someone else have collected on your father's life insurance even though you were the beneficary?
No
Does homeowner insurance cover someone else property also from theft?
No. A homeowners insurance policy is specific to the property of the named insured.
What is the difference between life insurance and non life insurance?
Life insurance pays a death benefit when the insured party dies. So, it is insurance on someone's life. Non Life Insurance (such as home, auto, general liability) insurance covers something else other than a person's life.
Can merrill lynch distibute funds to someone other than beneficiary named?
Merrill Lynch, like other financial institutions, is generally required to distribute funds according to the terms outlined in the account holder's estate plan or beneficiary designation. If a beneficiary is explicitly named, the institution typically cannot distribute funds to anyone else without legal authority, such as a court order or a change in the beneficiary designation. It’s advisable for the involved parties to consult legal counsel for specific situations.
Can a person insure property that belongs to someone else?
No, in order to get an insurance policy on property you need to have an insurable interest. Meaning you need to own the property or have some other interest in the property.
Can someone other than the beneficiary forge a signature to receive payment from the insurance company?
No, that person would be charged with both fraud and forgery and be sent to jail. The only legal way someone other that the beneficiary can sign for a payment is if the benificiary is declared incompetant and a court assigns the signing authority to that person or the beneficiary voluntarily signs legal documentation giving someone else that right
What happens when the insurance company says one person is the beneficiary and after the paperwork is sent for the deceased they say someone else is the beneficiary?
== == Ask to see the change of beneficiary forms. Verify signatures.
Is your husband's ex-wife legally entitled to life insurance benefits in the state of California?
If she is the beneficiary named on the policy, the insurance company has no other option. They cannot give the payment to anyone else.
Is it possible to pay someone else's insurance premiums with your credit card?
Certainly, if that insurance companie excepts that form of payment
Can a life insurance beneficiary change the name themself and release it to someone else?
No, only the person showing as the policy owner can make any changes on a life insurance policy, including changing the beneficiary. In some situations, the beneficiary is also the owner - in that case changes can be made.
What is a beneficiarie?
A beneficiary is someone from whom someone else knowingly benefits.
Does an insurance payment extend the statute of limitations in Wisconsin?
If it deals with the validity of the insurance agreement, yes. If it is related to a claim made by someone else, no.
Who can be a beneficiary on a life insurance policy?
In general, any living or de jure entity can be a beneficiary of a life insurance policy. However, if a minor is to be the beneficiary, the beneficiary designation is generally phrased in terms of the proceeds being paid in trust to someone else for the benefit of the minor until he/she reached legal age.If the insured initiates the insurance transaction there are generally few problems. However, if the beneficiary attempts to place insurance on the life of someone else and name him/herself as the beneficiary, questions may arise, including as to insurable interest. That is, in order for someone to insure another's life, he/she must have a "stake" in that person's continued life--otherwise, it is essentially a wagering contract which can be avoided by the insurer. The "stake" that has to exist can be financial, legal, "love and affection", but must exist in a legally recognizable form.
Can you contest the life insurance beneficiary on payment of death benefits?
You can contest who the payment was made in a court of law, but that is not to say you can stop the Insurance company from paying the money to the chosen beneficiary on record. The reason why people choose their beneficiaries is to avoid a situation like the aforementioned question. To make the process run more smoothly designating a beneficiary is necessary, otherwise the proceeds from life insurance could potentially move into the probate arena (where no one really wants it to go). So yes you can fight it at court but the insurance company is required to pay the premiums to the selected beneficiary, assuming said beneficiary is of legal age (otherwise it could be held in escrow). A judge could say that the recipient must pay a portion to someone else but that generally will not occur since the life insurance contract is a legally binding one in which the former insured has previously determined where the money is to go by way of the beneficiary election.
Is it ethical for the beneficiary to own a life insurance policy on someone else ie beneficiary is making payments on 18 year old son.?
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!
Can you cash in your brother life insurance that you been paying for?
It depends on the situation, the beneficiary set up, if he's dead or not, and what kind of life insurance you had. If he died and left the money to someone else, you don't have a claim on it at all.
How do you find out if someone made you beneficiary on a life insurance policy?
You can search from the branch office of insurance co. from where the policy was issued about nomination in the said policy, or you can take help from Customer Zone of the Insurance Co. located in your city. Depending upon where you live (which country), this answer can greatly differ. In the US, as long as you have ownership of the policy in question, you can just call the insurance company and ask them who the beneficiary is. If you are not the owner, then ask the owner of the policy (the insured or someone else) to ask for you. Be well. mcdlife.com
