aaron p
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If he took it out on her, he was the owner of the policy. When he passed away, she probably became the contingent owner (either by contract or will). You want to know who the owner is, not the beneficiary. The beneficiary is only material information at the time of death because the owner can change it at any point before then (unless the policy is collaterally assigned). Long story short, you should talk to your mom about it because she likely owns it now. |
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wizjp
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Life insurance has a "beneficiary" who gets the death benefit when the holder dies; probably whoever your father named. Check the policy |
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Kirsty
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only if she changes you to the beneficiary |
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William
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More likely than not your father is shown as the beneficiary on the life insurance policy, you should check this. If that is the case the policy is now a part of her estate, assuming that it was left to her in his will, if there was no will it would go to her without contest. When she would die the policy would be paid to the benefeciary who is unknown right now but probabaly was her husband. The policy should be reviewed and the proper changes made, if not it will become a part of her estate and be divided upon her death per her will. A call to her insurance agent and it more than likely has to be done my her unless she has granted you power of attorney will take care of this without a great deal of trouble. |
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Makotto
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There are three important persons in a life insurance policy; the insured, the beneficiary, and the owner.
In your case your mother will be insured (because her life is protected). Probably your father was the owner (becuase he bought the policy). The benficiary is still unclear, but if your father passed away already, changing the beneficiary might be problematic.
The best thing to do will be calling your agent and asking about your specific situation. |
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Scobill
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Any property , possessions , monies and insurance policies will form the estate of any deceased person and assuming a will has been made out the estate will be distributed as per the deceased wishes .
If no will is left the estate will be divided up amongst next of kin
So if your mother has a will naming you as sole benefactor you will get the inheritance . If no will is left you and any sibling will inherit equal parts after any debts are paid . |
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cwag
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Understanding life Insurance can be confusing at times. Your question depends upon who owns the life ins. policy on your Mother's life and who are the named beneficiaries.
First, when you father had a life co. underwrtie your mother's life; was she the owner or your father the owner of the policy(contract)?
If your mother was the owner and applicant then she has the right to name beneficiaries and either you or whomever and in what proportions(%).
If your father was the owner of the policy on your mother's life and he has passed away without changing ownership to you or your mother; then his estate and the trustee of that estate has the ability to name beneficiaries and change benficiaries, with the right documents showing control of the estate assets.
In other words if the owner of the policy and the insured are different then whoever owns the policy has those rights to name and/or change beneficiaries.
This is the process in the states to determine ownership and control of life insurance.
Hope this makes sense. Good luck and aDios |
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beverley.newman1@btinternet.com
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The insurance will form part of her estate.Providing she has left a will naming you as her beneficiery,you will get it,if she has no will and you have any siblings then it will be shared between you. |
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Ryan J
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Short answer, yes...Either directly or if she names you in her will to receive her estate. |
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