 If my son is named as the sole beneficiary(life insurance) if i were to die, could my husband challenge it? |
| i'm told yes by some, but no from many others. this is not a 401 or 403(which teachers have) which i know can be challenged in court. i do believe spouses have a say so in that. but as far as ... |
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 I Need Health Insurance? |
I am currently 19years of age and a full time college student.
I am not working but I need to find affordable health coverage. My insurance ran out as soon as i turned 19 and what i paid before ... |
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 Why do insurance co. not pay? |
| my kids were in a bad wreck not my or my kids fault my son 13 yrs at the time had a broken pelvice a lot of asphalt burns stiches allover surgries to put 8in. stainles plate in to repair the pelvice ... |
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 Is it possible to stay under my moms car insurance plan if I get my own place? |
I am planning on moving out, but I am on my moms car insurance right now, is it possible to keep it under her name if I move out?
If not, will my insurance go up alot??... |
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 Insurance says the doctor didn't bill correctly and the doctor says talk to the insurance company. Now what? |
| We went to an Ob/Gyn who did an annual exam and now the insurance company won't pay for the visit and says the doctor billed everything wrong. The doctor says take it up with the insurance ... |
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 Do single person with no dependents need life insurance? |
| I'm 37 years old single no children do i need to purchase life insurance i have no other family so if i get life insurance who will be the beneficiary and according that finance lady suze orman ... |
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| Owning a business, (Website only, no employees), business insurance???? |
| I was wondering if you need business insurance no matter what kind of business you own. I am starting a business that is nothing more than a website that is free for users and only makes revenue ... |
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 Liposuction - how can I get my insurance to pay for it? |
I have about 80 pounds I want removed from all over my body.
If insurance can pay for gastric bypass, there should be a way to get them to pay for this.... |
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 Wal-marts hurts :(...? |
Hi,
I got a small question for you all. I am an associate at Wal-Mart and I was injured wile at work. I have been on Worker saftey insurance for two weeks now. My question to you all is ... |
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 Can an insurance company deny you coverage due to pre existing condition? |
| If you are currently employeed and insured for you and your dependants and wish to quit your job and start your own business and buy private insurance somewhere else, can an insurance deny your ... |
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 TRUE? Wal-mart Wal-Mart carries their own life insurance policies on their employees. payable to Walmart? |
Wal-Mart staff ordered to search store after bomb threat
http://snipurl.com/t6z0 (more detail in link)
I was then told:
Since Wal-Mart carries their own life insurance policies ... |
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 Do i have to pay a deductible for a car accident that wasn't my fault? |
| I got into a car accident about 3 weeks ago and the person ran the red light and hit my car. DO i have to pay the deductible when it's not my fault? Please answer me soon i need some insight ... |
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 Renters Insurance? What Kind? Is it really worth it? |
| I am renting a condo from a friend, got a good deal, just signed the lease, he recomended that i get Renters Insurance because he said damages I make to the place or to other owners in the condo I am ... |
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| I had an accident can my insurance or .................? Help Please? |
| I had an accident is been a month and 4 days my insurance has settle everything with me they paid me for a renatl car medical bills etc. After that accident my car will loose value is it possible for ... |
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 What does flood insurance cost? |
| Technically, I'm not in a flood zone, but I got flooded out last June...... |
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 HOW LONG TILL I GEt MY CHECK FROM THE INSURANCE COMPANY? |
| I have filed a claim with homeowners insurance regaurding the items stolen out of my car when it got broken into. i sent in all the prove of ownership and it was recieved by my agent one week ago. ... |
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 Improperly park pick up truck ran into home, owner 's insurance to pay damages? |
| I would like to hear from anyone who has had to deal with this. the front porch and steps damaged as ? foundation. What about structural damage? I asked for a structural assessment and the insurance ... |
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Jennifer J | Can life insurance be forced to go to pay debts if there are named be beneficiaries? |
My dad passed away in Nov. He had named beneficiaries on his life insurance at work. He has way more debt than assets, he will have a negative estate. Creditors are threatening that we should use the life insurance to pay the balances...are these just tactics they use? Should we be concerned that the money can somehow be taken? We live in Wisconsin. Thanks! |
 |
 
bi66al
|
Life insurance is unique in that the death benefit, not the cash value always, usually free from debtors! UNLESS the policy has been assigned over to them or the beneficiary is them. The policy is unique, even with an estate plan, unless specificaly mentioned and beneficaries are changed will be paid only to the named beneficiary! This is generally true and is true in the Commonwealth of Penna.
Your father, my sympathy for your loss, had generally term insurance (no cash value) through work. Probally was not assigned because there is no cash value and the beneficary, if he listed one, is not a debtor. Call his HR or benefits department if you are the beneficiary, or the spouse or child or
executor (trix) and they will tell you only if you are beneficiary, but if not, they will not tell who is. I would contact your dad's place of employment first, then if necessary your State Insurance Commission, for an explanation (no charges). Then keep a log of these tactics and report to the Better Business Bureau, or if they are harassing your family, your attorney!
The only way, unless they are listed or assigned is if, your dad left no beneficiary. Then generally, it will go to the estate and after any taxation (the estate) then becomes part of the estate and is to be paid to creditors.
PLEASE NOTE.
These are general answers and info. I live in another state and each state has their own laws!
The State not the Federal gov't makes the laws here. So again, contact employer, the State insurance Commission--or reverse order, if you wish. |
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bdancer222
 |
Life insurance isn't part of the estate and you do not have to use it to pay your father's debts.
You will find that some credit card companies will say anything to get a family member to pay the bill. It's best not to talk to these people on the phone at all. Send them a letter with a copy of your father's death certificate. Tell them that it appears there to be a negative estate. Insist that they stop calling and only contact by writing. |
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src50
 |
No. Life insurance proceeds are paid directly to the named beneficiaries. |
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Fresh
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Typically life insurance proceeds pass outside of the estate. You should not have to use that money to settle his debts. |
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Ivanka F
 |
I will give you a short answer to your question. I called my Life and Health Agent and asked him this very question for you. The answer is no. He told me that insurance companies have spent millions to lobby for this very issue over the years. Not even the IRS can come after a life insurance benefit prior to distribution of the benefit. Once you have it in a bank account the IRS can seize it for back taxes. Of course the insurance companies have a quick and easy answer to that. Put the proceeds into an annuity upon distribution. |
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Carrie
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if your father has named a specific person (or persons), the insurance will pay the proceeds directy to him/her/them. if there was not a beneficiary named, then it would be paid to his estate, which may then in turn be used to pay his debts. you will want to contact his HR department or if he received an actual policy, review that to determine who was listed as the beneficiary. |
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T
 |
Life Insurance benefits usually pass to the heirs "non-probate". And they won't be used to pay the decedents bills.
However...Talk to an estate planning attorney...about your specific case and have him / her contact the creditors to get them off of your back.. Sorry for your loss. Good luck. |
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