Life insurance

[LdiJ]

The other party could be/have been harmed if she were collecting public benefits and failed to report her (co-)ownership of the policy.

That is a stretch. I have never seen life insurance matter in collecting benefits. When I was on Medicaid and food stamps I certainly was never asked about life insurance.

 

[LdiJ]

Well, this would be fraud and forgery. Nobody needs to have benefitted yet for the crime to have taken place.

Yes, but intent matters.

 

[Zigner]

What does your cousin want out of this? I suspect you need to seriously consider any demand she makes since you have committed actual crimes in purchasing the policy.

While I agree with you...an interesting thought experiment is to consider whether the cousin would be committing blackmail by requiring herself to be added to the policy in exchange for not reporting the crime.

 

[Zigner]

That is a stretch. I have never seen life insurance matter in collecting benefits. When I was on Medicaid and food stamps I certainly was never asked about life insurance.

You were never asked about assets? I find that hard to believe.

Of course, if this is term life insurance, the question is moot.

 

[justalayman]

That is a stretch. I have never seen life insurance matter in collecting benefits. When I was on Medicaid and food stamps I certainly was never asked about life insurance.

It really doesn’t matter. Op has committed at least two crimes in purchasing the policy. There needs be no benefit to anybody for the crimes to be prosecuted.

 

[justalayman]

While I agree with you...an interesting thought experiment is to consider whether the cousin would be committing blackmail by requiring herself to be added to the policy in exchange for not reporting the crime.

I’ve seen nothing explaining what the cousin seeks.

 

[Zigner]

I’ve seen nothing explaining what the cousin seeks.

...other than that the cousin is calling it fraud and is in a "constant battle" with the OP over it.

But you're right, we only have the OP's statements here, not the cousin's.

 

[bv143]

What does your cousin want out of this? I suspect you need to seriously consider any demand she makes since you have committed actual crimes in purchasing the policy.

My aunt is not a women with money and she would not be able to afford insurance for burial which is why i bought her the policy. Any money left over would be given to her grandkids. Im only concerned because I made the mistake of signing her name as a co owner because her mother did not want her to feel left out. I know it was a stupid mistake but since we dont get along she wants me to pay for signing her name. Im thinking the best thing would be to cancel the whole policy.

 

[PayrollHRGuy]

One would think that both owners of the policy would have to sign to cancel the policy.

 

[Zigner]

Why don't you tell us what the cousin is saying that gives rise to your concern?

 

[HRZ]

Sometimes the best answer is to shut up , stop talking , and do nothing more ...and BTW, the beneficiary of a life insurance policy has no legal duty to address the final expenses of the insured.

 

[justalayman]

My aunt is not a women with money and she would not be able to afford insurance for burial which is why i bought her the policy. Any money left over would be given to her grandkids. Im only concerned because I made the mistake of signing her name as a co owner because her mother did not want her to feel left out. I know it was a stupid mistake but since we dont get along she wants me to pay for signing her name. Im thinking the best thing would be to cancel the whole policy.

If that were the case she could have purchased policy in her name with the proceeds designated to be paid to her estate. You could have still paid for the policy. It still makes no sense you illegally signed your cousins name to the application as it makes no sense she was even made a co-owned, especially given your statement of what the insurance was purchase for.

And as another said, you can’t cancel the policy on your own

And that still does not erase the crimes committed.

So what does your cousin want out of this?

 

[LdiJ]

My aunt is not a women with money and she would not be able to afford insurance for burial which is why i bought her the policy. Any money left over would be given to her grandkids. Im only concerned because I made the mistake of signing her name as a co owner because her mother did not want her to feel left out. I know it was a stupid mistake but since we dont get along she wants me to pay for signing her name. Im thinking the best thing would be to cancel the whole policy.

What exactly do you mean by the bolded?

 

[justalayman]

What exactly do you mean by the bolded?

I suspect she wants payment for not reporting this as fraud and forgery.

 

[Zigner]

I suspect she wants payment for not reporting this as fraud and forgery.

A crime in and of itself (the blackmail).