D
Darrell Griffin
Guest
Re: Post from 1-26-2001
I finally managed to get through to the Sr.Benefit Specialist at the company that my daughter had her Group Life Insurance policy with. She has since sent me the copies of the Group Insurance Change Request form and the beneficiary provisions. My daughter's husband has contested the beneficiary designation. The change request form has (under "Beneficiary Change") her husband lsted as Primary and I as Contingent. On the form she did not date it, she did no sign it, she did not have a witness sgnature. Since the original policy effective date of March, 1988 I, her mother, have been the only beneficiary of record. The language on the policy regarding the beneficiary is as follows:
CHANGING THE BENEFICIARY. Only the Insured Person, or his or her assignee, may change the Beneficiary. A new Beneficiary may be named by filing a written notice of the change with the Company at its Home Office. The change will be effective as of the date it was signed; subject to any action the Company takes before receiving notice of the change.
On the cover letter she requests that I "work with my daughter's husband to come to an agreement as to how proceeds should be paid." She then adds "If no agreement can be made, we can interplead the proceeds."
My questions: Can the Company do this? If so, will I have to pay for this? Am I missing something in the Language? Just what is interpleading? Is it the same as arbitration?
I am very thankful for your advice. I realize that it seems unavoidable to resolve this wihout an attorney. I'm on a fixed income so I want to have as much information as possible before taking that step.
Thanks again from
OREGON
I finally managed to get through to the Sr.Benefit Specialist at the company that my daughter had her Group Life Insurance policy with. She has since sent me the copies of the Group Insurance Change Request form and the beneficiary provisions. My daughter's husband has contested the beneficiary designation. The change request form has (under "Beneficiary Change") her husband lsted as Primary and I as Contingent. On the form she did not date it, she did no sign it, she did not have a witness sgnature. Since the original policy effective date of March, 1988 I, her mother, have been the only beneficiary of record. The language on the policy regarding the beneficiary is as follows:
CHANGING THE BENEFICIARY. Only the Insured Person, or his or her assignee, may change the Beneficiary. A new Beneficiary may be named by filing a written notice of the change with the Company at its Home Office. The change will be effective as of the date it was signed; subject to any action the Company takes before receiving notice of the change.
On the cover letter she requests that I "work with my daughter's husband to come to an agreement as to how proceeds should be paid." She then adds "If no agreement can be made, we can interplead the proceeds."
My questions: Can the Company do this? If so, will I have to pay for this? Am I missing something in the Language? Just what is interpleading? Is it the same as arbitration?
I am very thankful for your advice. I realize that it seems unavoidable to resolve this wihout an attorney. I'm on a fixed income so I want to have as much information as possible before taking that step.
Thanks again from
OREGON