Life Insurance benefits

[wrhawaii]

What is the name of your state? Hawaii

My life insurance policies designate my adult children as beneficiaries. I am remarried now, in the event of my death or divorce will by wife be entilted to any of the insurance proceeds from these policies? thanks for your advice!

 

[Betty]

What is the name of your state? Hawaii

My life insurance policies designate my adult children as beneficiaries. I am remarried now, in the event of my death or divorce will by wife be entilted to any of the insurance proceeds from these policies? thanks for your advice!

Life ins. is payable to the beneficiaries you designate in the policy to receive the proceeds at your death. If you wish to change the bene designation, you can - contact the ins. co. or your agent for a change of beneficiary form.

 

[msiron]

Make sure your children have copies so your new wife can't attempt to pull any funny business in the event that you pass.

 

[joeliwilson]

Beneficiaries

Michigan

The Death benefit payment on a life insurance contract occurs by contract, not through litigation.

Your wife only has a right to the accumulated cash value within the policy, which in some states she may own 50% of by virtue of being your spouse.

Unfortunately when you die, that money belongs to the insurance company, the contract will then be honored and your children will get their money.

- Joel I. Wilson

 

[Betty]

Michigan

The Death benefit payment on a life insurance contract occurs by contract, not through litigation.

Your wife only has a right to the accumulated cash value within the policy, which in some states she may own 50% of by virtue of being your spouse.

Unfortunately when you die, that money belongs to the insurance company, the contract will then be honored and your children will get their money.

The cash value belongs to the owner of the policy. For example - the owner can cancel the policy & take the cash value.

 

[moburkes]

Betty, please remove the signature line from the reply you quoted. I'm not sure about Hawaii specifically, but, in most states, no, she is not entitled to anything. Check with your insurance company for a faster response. It should only take 1 phone call, and maybe a phone call back to you, after they've done a bit of research. If you're worried about her finding out, have them call you at work.