- 5,933
Any of you every have this issue? If so, how did you deal with it?
The beni is in prison... now what?
- Thread starter Life Hawk
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- beneficiaries
- 4,872
- 4,306
- 4,306
I have had it happen only once. (And to make matters worse, it was a contestable claim!
) I don't remember what we did, though. I do remember calling the company and getting instructions. I remember that he was married, and we did everything on the outside through his wife. I also remember that he was thoroughly involved. I think she actually had to drive to where he was locked up to get him to sign something. I don't remember if it was an authorization designating her as his personal representative, or assigning the policy to her, or exactly what. I would just call the company. I promise they've seen this before and have a procedure in place.- Thread starter
- #5
- 5,933
I'll give AGI a call. Sad thing it is a GI within the 2 yr window. 
- Thread starter
- #6
- 5,933
From the grave!
Key piece of information . . .
Perhaps you should have asked for a recommendation for a forger.
- 4,872
OK, here's what I was trying to say:
The owner of the policy changes the beneficiary to someone else who is not in prison. At claim time the beneficiary is going to be the person that it was changed to.
Ex: mother has a policy on herself (she's the insured and owner) and the only bene is her son. A year later her son just got locked up for 20 years. Mom now fills out a "change of beneficiary" form and removes her son and adds her sister as the bene.
Unless I misinterpreted the question. Maybe Lifehawk was saying the insured just died and the bene is now in prison?
- 4,306
Yes, you did. That's exactly what he's saying. Now go get another cup of coffee. You're not running at 100% today!
- 2,812
As long as the beneficiary didn't kill the insured, he collects, prison or no prison.
He can appoint someone to act for him with power of attorney.
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