Life Insurance Beneficiary

[rambush]

What is the name of your state? MD

1. Can a life insurance company override a beneficiary designation?
Policy owner dies and has his girlfriend who has twins listed as
beneficiary, however there is a wife with 2 children that the policy
owner was never divorced from. Can the wife contest?

The insurance company is currently investigating.

 

[Dandy Don]

This matter is of such importance that it would be wise for you to have an attorney (who is experienced with insurance matters) or an insurance industry professional or even better yet, a paralegal, to research this question for you to try to find the case law that is relevant in your state or nation. Your situation is so very unique, but undoubtedly it has probably happened before.

Normally the designated beneficiary is the recipient and it would be most difficult if not impossible for anyone else to be paid. Do the wife and children have other assets from the estate that will be used for their support and are there other insurance policies that they were named beneficiary on and will be receiving?