anaiah said:
thank you for the information. i now believe that he has two separate policies.
My response:
You're not getting it. You're not understanding. You said it yourself, yet you're not understanding:
"his divorce decree states that his two daughters be named as the equal benficiaries of any life insurance policies and pensions that he holds."
The operative phrase is, ". . . ANY life insurance policies".
Therefore, he could have 100 life insurance policies, and his daughters will get everything no matter who is named as the beneficiary.
Why ?
Because HE is the "subscriber" to the policy; i.e., he's the one making the purchase ! So, no matter how many "policies" (as in plural) he may buy, the insurance proceeds would always go to his daughters.
So, your next question is, "How do I get around this ?"
Simple.
YOU buy a policy on your husband, YOU be the subscriber, with him signing only that it is okay for you to buy a policy on his life, but you buy it as the subscriber, and then you make sure, since you would be the "subscriber", to sign any premium checks to pay for the monthly premiums. Make sure you're named as the beneficiary. Then, the daughters will not be able to make a claim to that money.
IAAL