Mis-Named Beneficiary

[dave8365]

What is the name of your state (only U.S. law)? California

Hi,

A friend of mine died and left me as one of the two beneficiaries of his life insurance policy. Unfortunately, either he or someone else use an incorrect last name. The first name is correct.

I knew this guy for 35 years; as far as anyone can tell there wasn't anyone he knew who had the last name of the named beneficiary.

I submitted a claim form to the insurance company, and they sent back a reply asking for a copy of the court order granting me a name change.

What do I do?

 

[Zigner]

How far off is the name. Are we talking Mr. Smithe as opposed to Mr. Smith? Or are we talking Mr. Smith as opposed to Mr. VanRotterberg?

 

[dave8365]

Unfortunately, the name is completely different. But he had informed both me and the other beneficiary that we were going to get his life insurance policy.

 

[Zigner]

Unfortunately, the name is completely different. But he had informed both me and the other beneficiary that we were going to get his life insurance policy.

Is it worth a name change?

 

[dave8365]

No. Besides, I don't think I can change my name after the fact...

 

[Betty]

No, you can't change your name after the fact to the name on the ins. policy. The ins. co. is apparently wanting a copy of a name change form showing that your name was changed from what is on the ins. application to your current last name. (or from your current name to the name on the application) They need something to show your name was/is what is on the ins. application/policy. You can't change your name now just to get the proceeds.

If you were friends for so long, it seems the person would have gotten your last name correct (though I guess an "error" could have happened).

I don't think the ins. co. will pay any proceeds to you if you can't prove you are the person named on the application. I don't know how much money is involved here but you can try talking to an attorney & see if there "might" be something that can be done.

I worked for an ins. co. & we wouldn't pay it to someone whose last name was completely different than on the application. Not all applications ask for this but some applications ask for a bene's date of birth and/or SS#. That would help if the app. asked for this info & it is correct for you.

 

[scadv]

...You can't change your name now just to get the proceeds.

...If you were friends for so long, it seems the person would have gotten your last name correct (though I guess an "error" could have happened).

... Not all applications ask for this but some applications ask for a bene's date of birth and/or SS#. That would help if the app. asked for this info & it is correct for you.

Exactly.

As a financial advisor who has an insurance license, I can attest that this is right on.

The Company is looking at the name at the contract date.


The agent could have mistakenly put down the wrong name (this does happen sometimes).

But most modern policies have some sort of info to fill out as to the "relationship" of the benificiary, as well as dob and sometimes even SS#.



If the amount is worth it, and you can find people to attest that he wanted you as beneficiary, a lawyer might be worth it.

If you can find witnesses, or even better, some kind of documentation (will, personal notes, letters, etc) it would make for a half decent case in my opinion.