Life Insurance Beneficiary

[evansrenee]

What is the name of your state? Wisconsin. My parents were divorced in 1963. All these years we children thought our dad was keeping a life insurance policy in effect that named us as beneficiaries. We just found out our mother is the beneficiary. She has been married twice since. He has been remarried for over 30 years. Our dad says the insurance policy was a stipulation of their divorce. Can't something like this be changed...especially considering the fact that both parties have remarried?

 

[CIAA]

Well, uaually you would expect your mom to be not only the beneficiary, but also the "named owner" even though your dad is the insured and premium payor. Have you asked your dad for a copy of that part of the divorce agreement that contains the requirement? Finally, it may be that your dad wants it that way, so be easy