beneficiary

[twostep]

What is the name of your state? Oregon

My son is getting married to a woman we have grave doubts about. This is her 3rd marriage- her first husband she divorced (one child 9 yrs.) and her second husband died in a single car accident whom she had a life insurance policy on. She got the policy on him before they were even married he was only 27 yrs. old and it was a 400,000.00 policy in 2002. They were married two years. Rumor was they were going to have to file bankruptcy until she got her money from his policy. Two weeks after he died she started dating someone else and they moved in together. Fast forward to now and the same scenario. She took out an insurance policy on my son and supposedly on herself with each other as beneficiaries. This time the policy is for 650,000.00! My son is 28. There is not much I can say to him because he knows we question her motives and morals but I swear she is a sociopath and has no feelings but fakes sincerity well. Here is the problem. Next week they are getting married and flying off to Mexico (Playa Del Carmen) for ten days. They are going into the back jungle and visiting the ruins and Mayan pyramids etc.. She's sketchy on any information if you ask her anything specific about what they have planned and frankly it just feels weird because normally my son is so open and excited about making plans. So my questions (I know finally) are this-
1) The policy was signed in December is there usually some kind of a time frame before you can collect?
2) If something happened to both of them (God forbid) does his policy then go to her heir which would be her son? The reason I am asking this is I was trying to think of a way to approach him to temporarily change his beneficiary (to his sister) so he would be safe from her while they were out of this country.
I know this sounds dramatic and over reactive but I couldn't even go into half of what has taken place.

 

[Betty]

There is no time frame before they will pay out as long as it is past the effective date of the policy. However, most policies have a two year contestable period where if the insured dies, the co. can contest payment. Usually, if the insured dies within the first two years, the co. will check the death out closely before making payment. There could have been a pre-existing condition not admitted to on the application for example.

If the son signed the application taken out on his life (agreed to the ins.), there is nothing you can do about that. It was your son's decision. If his wife is the owner of the policy on your son's life, only the owner can change the beneficiary. If your son would happen to be the owner, then he can change the bene but that would be his choice. He could also leave wife as primary bene but name his sister as contingent bene to get the proceeds if primary bene not living at his death. However, like I said only the owner can make any changes on any of the policies. If they should both die at the same time, the policy provisions would govern who gets the proceeds if there are no contingent benes named.

add info: Is your son's wife the owner on her policy also (the one on her life)? If your son was the owner on her policy, he could change the bene/add a bene on it if he wanted to.

 

[twostep]

I just know that they signed the policies in December naming each other beneficiaries. She is not his wife for another week (I still have hope, ya right). I know I can't change anything but I was kinda hoping to suggest just in case something happened to them to put his sister on as beneficiary, thinking she wouldn't be tempted to push him off a cliff or something knowing she wouldn't gain from it. I think at this point I am just going to say in a joking like manner in front of everybody (at their small wedding the night before they leave) that he better come home or with the fact they just took out that life insurance policy it might look really suspicious.

 

[Betty]

You can make suggestions but it will be up to the owner of each policy whether they want to follow them or not as you know.

Hopefully, they will come home safe & sound & that you are worrying for nothing.

 

[Dandy Don]

How long did your son date this woman and where/how did they meet?

What you should be doing now is hiring a private investigator to do a background check on her to see if there is documented evidence of criminal behavior in the past. In the meantime, I assume you were invited to the wedding and hope you can maintain politeness and a big smile on your son's behalf.

 

[Betty]

& just hope the son never finds out about the private investigator (it can happen). Hiring a private investigator could end up causing trouble between mother & son.

 

[Dandy Don]

Or maybe the son will be grateful if detrimental information is discovered about the potential fiancee that he was unaware of before deciding to marry her, especially if it saves his life!

 

[justalayman]

I hope this is not real. It sounds like many books that have been written (fiction) and just reading it gives me the creeps thinking it may be real.

I'm not normally a paranoid person but this sends out all sorts of warning flags.

I wouldn;t care if the son found out about a PI. I believe it would be the prudent thing to do if available.

This sounds like a movie in the making.

 

[Betty]

It will have to be the mother's decision whether to get a PI or not. If she feels strongly about it, she can go ahead & hire one. It seems the son isn't as concerned as the mother though they do say love is blind.