Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
My husband has life insurace policies and his X-wife is the beneficiary!!?
Their child is over 18, so I don't understand why he still has the life insurance policies in HER name. As his wife I feel like I should be the beneficiary if something were to happen (hopefully it never does). FYI They do not get along at all, hence the divorce. I would NOt want a policy in the name of someone I did NOT get along with.... seems crazy to me.
The policy is for tens of thousands. He can have it changed, but we would have to have a judge sign off on it. His pension and another life insurance policy are in MY name, but still I am not clear on why ANYONE would have a life insurance policy with an X as the beneficiary and NO minor children. I have asked him and he is a very passive person, does not want to go back to court to have it changed.
7 Answers
- AnonymousLv 71 decade agoFavorite Answer
The policy OWNER gets to pick who the beneficiary is. If he let her be the owner, when they were married, then she's the owner forever, and he CANNOT change the beneficiary clause.
It's also quite possible, that a term of the divorce, was that he got life insurance, with an IRREVOKABLE beneficiary clause - that means, she's the beneficiary, and he cannot change it.
As the wife, have you ASKED your husband why she's the beneficiary?
Alternatively, you can always talk to him about buying ANOTHER life insurance policy, with YOU as the owner, so YOU get to pick who gets the money. And you get to pay for it, too.
- 1 decade ago
Uh, yes that is indeed crazy and irresponsible unless by decree he had to have coverage (at least until a certain age). But, if that's the case then why does he not have a policy for you? OR, why do you not have a policy on him?
It does happen where ex-spouses get insurance and retirement proceeds because the beneficiaries never get changed. If he died yesterday what would you have got? You can't change it after he dies.
- ?Lv 71 decade ago
If he wants to leave the money to his child, he should put the child's name on the policy, not the ex-wife's. You might suggest you both get policies and make each other beneficiary. Then he might get the idea to cancel the other policy, or change the beneficiary.
- Anonymous1 decade ago
The owner of the policies is the party that designates the beneficiaries.
- How do you think about the answers? You can sign in to vote the answer.
- Go with the flowLv 71 decade ago
What about your will and trusts?
Have you seen what's in them too?
Time to get a book and wills and trusts.
Look for one with a cd in it that will allow you to print everything out.
You can take it to a notary at a bank or a library and do it for free.
If you want a professional one - just take all that paperwork to a lawyer.
Being ready saves time and money.
How much is the policy.
If it's just for a couple of thousand I would not worry about it.
Talk to your husband - tell him to keep one for his son - but not the wife.
That's step one.
After the son is 21, then push to get the son's one taken off.
/
- StephenWeinsteinLv 71 decade ago
It may be required by the terms of the divorce, or it may be something that he decided to do. Either way, you cannot do anything about it.
