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Life Insurance

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My soon to be ex-wife was obtaining life insurance, which was no problem at the time, I was looking out for my 2 boys in Oregon. She is the owner of the policy of $500K, since separation she has considered this policy her retirement and I need to get more ins. for my legal obligations(support/alimony). I called the ins. company and quoted my policy number, they said the policy had been changed from 10 year to 20 year term, and that she has changed the beneficiary to herself only. My signature on the ins. document was NOT witnessed, so she had someone in Oregon witness the signature, when it is proven I was 4000+ miles away. Is this policy still valid? They have said that she owns the policy she can do whatever she wants with the policy and I do NOT have to be notified is that correct? I would like a copy of the policy that I signed but they refuse even when I tell them there are 2 civil actions showing fraud on her part. The policy did not take effect until Dec 21, she claims separation occurred Dec 22, when in fact I left in November, I tried in November to cancel the policy that was NOT in effect and they refused saying she was owner...even when it was not in effect?


Senior Member
This is really something to review with your divorce lawyer as part of the settlement negotiations, particularly if you fear that she might be motivated to have someone "accelerate" your death to collect on the policy.

Here are the issues.

IF she had an insurable interest at the time the policy was applied for that is enough for her to buy it. And keep it.

If there are any material misstatements on the policy -- such as about your health -- the insurance company can can sue to cancel the policy. So you may want to tell them about things.

If you die within 2 years of issue it can "contest" the policy based on misstatements.

If it is ever proven she was responsible for your death she would not inherit.

AFTER speaking to your lawyer and getting the lawyer's advice based on ythe actual facts, a letter from the lawyer to the insurance company's General Counsel and CEO and Chief Underwriter may get some attention.

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