Can instructions in a "Will" supersede those given to a life insurance co. about the beneficiaries of a life insurance policy?
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Answered on February 13, 2013
LIfe insurance is non-probate property, i.e, controlled by a beneficiary designation, not a will (unless the policy is payable to one's estate). ...
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Is it legal for an insurance plan to dictate that they won't pay because you are related to the provider?
William's answer
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Answered on February 12, 2013
This is a fairly typical exclusion in health insurance plans and policies. These exclusions are typically valid and enforceable. People who have...
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What if i cant find the beneficiary to the life insuance policy i am the coningent on it what happens to the money?
William's answer
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Answered on February 11, 2013
An important question in such a scenario is whether the primary beneficiary survived the insured?
If he did, the money would be payable to...
If an incompetent person is the number one beneficiary on a life insurance policy must he share the money with the number two
William's answer
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Answered on February 08, 2013
No, an incompetent primary beneficiary does not have to share the life insurance proceeds with the contingent beneficiary. A guardian of the...
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My x and I were court order to take out a life insurance policy payable to each other for the amount of 25,000.00 on 12/8/2008.
William's answer
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Answered on February 08, 2013
The scenario is unclear to me. Were you each to insure yourselves and pay the premiums on your own policies? Did you take out both policies and...
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Is it possible to for me to get life insurance for a brother who does not have money for insurance and is disabled?
William's answer
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Answered on February 08, 2013
As a sibling you would have an insurable interest. (See http://insurance.illinois.gov/Life_Annuities/FAQLife.asp.) As such, you could buy the...
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Life insurance policy
William's answer
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Answered on February 08, 2013
Generally, the contract determines the payout in this and other circumstances. You should obtain and read it to see if it sheds light. If you...
Guardian of child's estate.
William's answer
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Answered on February 08, 2013
You do not mention the amount of the insurance proceeds. If it is under $10,000, the company might be able to pay you under ORS 126.700. ...
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Can a company cancel your Life Insurance you paid for years, but miss a payment because you are hospitalized AND out of state?
William's answer
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Answered on February 08, 2013
Without access to the policy and a history of premium payments, it is not possible to know if, in a given case such as yours, the insurance carrier...
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I received life insurance money when my Grandmother passed away. Do I need to find out if there's bills of hers to pay?
William's answer
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Answered on January 29, 2013
No, life insurance benefits due a named beneficiary are non-probate assets. That is, they do not pass through the estate of the decedent. You do...
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