Life Insurance & Stepchildren

[beeorlando]

What is the name of your state? FL

My father has an accidental death life insurance policy which names the beneficiaries as his children, stepchildren, or adopted children. My father was divorced from his second wife over 10 years ago. Are her children still legally his stepchildren?

Thanks for your help!

Carla

 

[fairisfair]

no, his relationship with those children ended with the relationship with their mother. Your father really does need to specifically name a beneficiary. And remember to change said beneficiary if his wishes change as well.

 

[beeorlando]

Wow, that was fast! Thanks for your help.

 

[Dandy Don]

How much would this policy pay out if it needed to?

Since the odds that he would die in an accidental death are very low, it would be smart for him to get another, different, life insurance policy (term life insurance), if he could afford to do so, that would pay out much more if he were to die, and it wouldn't depend on an accident happening.

DANDY DON IN OKLAHOMA ([email protected])

 

[beeorlando]

It's $50,000, $100,000, or $1,000,000 depending on the circumstances. I just took over his finances and I'm trying to straighten out all of his important papers and make sure his existing policies don't lapse. He has one whole life policy, two decreasing term policies, and 4 accidental death policies. I don't know why he has so many accidental death policies as it is very unlikely he'll perish in an accident. But since they're inexpensive premiums, I've decided to keep them up as he originally intended. I was just asking the stepchildren question so I can anticipate any future issues after he passes. Thanks for your interest!

 

[nextwife]

What is the name of your state? FL

My father has an accidental death life insurance policy which names the beneficiaries as his children, stepchildren, or adopted children. My father was divorced from his second wife over 10 years ago. Are her children still legally his stepchildren?

Thanks for your help!

Carla

WE are presuming he never adopted any of his stepchildren in the previous responses.