Life Insurance Beneficiary

[michael2020]

Quick question for you experts. I have a family member thats married and asked me this. Since im no lawyer but want to help him, im asking you experts for your opinion. He is married, but not contempt on both sides from my observations. 2 kids and a house and both working. His wife took a life insurance policy out and put him as a beneficiary. So if he passes, she gets paid. And that bothers him tremendously. Without giving out why it bothers him, he is not contempt with this knowledge. So, he wants to find out if any laws were broken and having his name in a life insurance policy. I am no lawyer, and I suggested to seek one. But before spending money on one, I think I would help him out with at least some small answers from this big community. This is what he asked me.

Can anyone be put on a life insurance policy without their knowledge and consent as a beneficiary?

This is in the state of California.

 

[WinoBlues]

Re: Life Insurrance Beneficiary

Quick question for you experts. I have a family member thats married and asked me this. Since im no lawyer but want to help him, im asking you experts for your opinion. He is married, but not contempt on both sides from my observations. 2 kids and a house and both working. His wife took a life insurance policy out and put him as a beneficiary. So if he passes, she gets paid. And that bothers him tremendously. Without giving out why it bothers him, he is not contempt with this knowledge. So, he wants to find out if any laws were broken and having his name in a life insurance policy. I am no lawyer, and I suggested to seek one. But before spending money on one, I think I would help him out with at least some small answers from this big community. This is what he asked me.

Can anyone be put on a life insurance policy without their knowledge and consent as a beneficiary?

This is in the state of California.

I believe as long as the company allows the person, usually due to insurable interest, they can put whom ever they want.

However, he does not have to file the claim for the money. If he refuses it will go to the contingent. I would also suggest he call the company and let them know he does not want to be named. They may not speak to him because he is not the owner but worth a try.

Lee

 

[Newby]

It sounds like the OP has it backwards. Husband is the insured and wife is the Benny.

Could be some forgery or identity theft involved with the app.

 

[michael2020]

Re: Life Insurrance Beneficiary

That's what I told him. Call up the company and see if he can get out of the policy. He is a busy guy from his shop. He owns a small business . And stays very busy and does not want to call. So I personally called but they wanted policy number, address and etc. I wasn't prepared. So I'm just resorting to asking online for a some what accurate information on this.

----------

Newby.... From what I was told. Policy holder is the wife. The beneficiary is the husband. He requested his name of the policy, the wife said she would take care of it. But now he is wary on the whole thing since she did not tell him of this policy. It's been paid for over a year through monthly payments.

 

[VolAgent]

Re: Life Insurrance Beneficiary

Ok, something doesn't make sense here.

If she took out a life insurance policy and named him as the beneficiary, that would mean she is covered and he will be paid if she passes. There really is nothing to complain about there.

If you mean she took out a life insurance policy to cover his life with her as beneficiary, then that is different. Generally his consent is needed. Now, as a benefit some companies allow people to cover their spouse for some amount of coverage. Generally his consent isn't needed for that.

Which situation are we talking about?

----------

That's what I told him. Call up the company and see if he can get out of the policy. He is a busy guy from his shop. He owns a small business . And stays very busy and does not want to call. So I personally called but they wanted policy number, address and etc. I wasn't prepared. So I'm just resorting to asking online for a some what accurate information on this.

----------

Newby.... From what I was told. Policy holder is the wife. The beneficiary is the husband.

If he is the beneficiary, then he has nothing to complain about.

Also, unless you are the agent who sold it or you are the owner of the policy, the company isn't going to tell you anything.

 

[michael2020]

Re: Life Insurrance Beneficiary

Volagent, good info there. No, I'm just his brother. I'm just watching over him. I read the policy, he is the benny and the policy does show numbers on his passing. That's what got him upset. Specially that he did not know anything of this policy.

 

[VolAgent]

Re: Life Insurrance Beneficiary

Volagent, good info there. No, I'm just his brother. I'm just watching over him. I read the policy, he is the benny and the policy does show numbers on his passing. That's what got him upset. Specially that he did not know anything of this policy.

Scan the dec page and then black out any personal info.

If he is the beneficiary, then it does not pay on his death. He would receive the money on the death of the insured. Someone has something confused somewhere.

 

[michael2020]

Re: Life Insurrance Beneficiary

So if he dies for what ever reason, his overall income potential gets calculated and she is given a check. Same for him. But what bothered him from my knowledge, he was never told of this policy until he stumbled into a invoice. And his marriage isn't in the best shape. So he wants nothing attached to his name.

----------

Scan the dec page and then black out any personal info.

If he is the beneficiary, then it does not pay on his death. He would receive the money on the death of the insured. Someone has something confused somewhere.

good idea! I'll see if I get to it. I'll see him next week. I'm not a expert and want to calm him down on this.

 

[unic.consulting]

Re: Life Insurrance Beneficiary

That sounds to me like she got a spousal rider on the plan. Please correct me if I'm wrong, but since she is the policy holder, only she can remove that rider.

 

[WinoBlues]

Re: Life Insurrance Beneficiary

So if he dies for what ever reason, his overall income potential gets calculated and she is given a check. Same for him. But what bothered him from my knowledge, he was never told of this policy until he stumbled into a invoice. And his marriage isn't in the best shape. So he wants nothing attached to his name.

----------



good idea! I'll see if I get to it. I'll see him next week. I'm not a expert and want to calm him down on this.

He needs to talk to an agent. If he is to busy then it is not that important to him.