What is the name of your state (only U.S. law)? Pa Do you have to use life insurance to pay off bills afer ones death? Also if theres a good chance that your going to be getting a devrorce can you change and not give ins money to one's wife?
Unless you make your estate the beneficiary, the insurance will not pay of your bills after you die. Do you want to have your insurance pay of your bills?
Whatever bills you have at death will be paid out of your estate. Those that cannot be paid are written off as a loss by person you owe.
Do you have children?
Ask the company that holds your insurance if you can remove your wife as the beneficiary. Ask your attorney too.. the one doing your divorce. When I divorced my ex, the court required that neither of us change our issuance beneficiaries until the divorce was final. And the divorce agreement required that we both carry a certain amount of insurance with our son as beneficiary.
For example I have insurance at work that requires my husband to be the beneficiary. He had to sign and notarize a form to waive his right to 100% of the insurance.
So talk to your attorney and the insurance company.
