 What happens when there is a loan on a house and no death insurance, and the house is being left to me? |
| My Mom was recently diagnosed with lung cancer. She is wanting to revise her will due to changes with in the family. She wants to leave me her house. There is a loan on the house that is "non-... |
|
 Affordable Life Insurance at 80? |
Please help me find an affordable life insurance at 80 years of age to life.
Thank you,
L... |
|
 Can your employer hassle you about the insurance? |
| Both my wife and I have insurance from our work. But my work had been asking me if I really need two insurances. They are trying to cut their cost by asking me to drop my insurance from my work, ... |
|
 Life insurance/living will question...? |
| My husband has a accidental death benefit insurance mainly for our mortgage, in case he becomes incapacitated or dies, I am the beneficiary (we have no kids). I am 32 and he is 33 years old, we have ... |
|
 Where can I get health insurance ? |
| I have a disability (hearing loss), and I don't have a job, so I am not working. I want to get a hearing evaluation at University of Washington (where I live) but I need health insurance. O... |
|
 Disability question? |
| suffer from depression and anxiety and panic disorder. I take meds and I have been going to my doctor for 2 years for this. We have switched my meds and doses a few times. I still suffer from these ... |
|
 What does each question on a car insurance mean and how does it increase your rate? |
| I am 20 and have had insurance my prior rate was 700 for 6 months. I had two at fault accident before that insurance at 18. But only one was really at fault and I have to get proof and the other ... |
|
 Health insurance? |
| I am 19 years old and I currently have medical insurance through my parents. After this semester in college I will have to get my own coverage since I will no longer be a full time student. About how ... |
|
 Insurance Settlement Claim from Car Accident? |
Hey Guys,
I was in a car accident November 18th of last year. I hired an attorney in January and I have a good case. It seems like it's taking forever for me to get the money that ... |
|
 Can you get Wal-Marts $4 meds. without insurance? |
| I don't have any insurance and I need to get a prescription.Does anyone know if the $4 prescription plan applies to people without insurance?... |
|
 What can a person do for health insurance if his employer closes down? |
| My brother-in-law is truck driver and just found out today the company he has worked for over 10 years is filing for bankruptcy and all benefits ceased as of today. Here is his major problem...he ... |
|
 I have a disability insurance policy that I pay through payroll deductions. Can they legally deny a claim? |
| I have been off of work ill since 11/1/2007. I have post herpetic neuralgia (nerve damage in my forehead from a shingles outbreak in 1999). I have filed a claim on this before and it was honored; ... |
|
 Insurance/Beneficiary????... |
I am named as beneficiary on several of mothers insurance policies. When she passes will I have to claim the money from the insurance companies as income on my taxes.
I reside in the State of F... |
|
 Need health insurance? |
| I need to get my own health insurance. Does anybody know of any insurance that just covers if stuff goes really wrong?... |
|
 I need a legal advise. My company pay our commission every six months, but now they just announce that they ar |
| going out of business in 2weeks. We are going on the the 3rd month before commission..Am I entitle to collect some kind of commission for the 3mths,even though we didn't complete the 6mths ... |
|
| If you injure your hand on the job and the company you work for does not have workmans comp insurance will you |
| If you injure your hand on the job and the company you work for does not have workmans comp insurance will you still get paid for lost wages and if you do not regain full use of your hand what action ... |
|
|  |
I love America♥♥♥ | Please explain this to me (life insurance and beneficiary)? |
My HUSBAND had his life insurence in his MOTHERS name. I demanded that he change it ONLY because WE ARE MARRIED for christ sake! Anyways he works for a prison and came home today telling me he changed it i said i wanted proof so he handed me a piece of paper but it said NOTHING about LIFE INSURANCE it was talking about his retirement FUNDS!!! Can someone please tell me what the hell it is supposed to look like?!?!? whats the paper look like or what would it say?!?! I am fuming right now any help would be GREATLY appriciated |
 |
 
aaron p
 |
Sounds like he's confused. Now most retirement plans do pass on by beneficiary. In most states in the US, the spouse is a protected beneficiary anyway which means it wouldn't matter if he changed it or not. (This actually happened to one of my clients in NC when her husband changed the bene while he was going crazy in his later years.)
Anyway here's an idea about the life insurance, instead of relying on the policy at work that either goes away when he leaves or he has to convert it at an astronomical price, buy your own private coverage which might even be less expensive anyway. |
|
mbrcatz
|
OK, there are potentially THREE parties to a life insurance policy; the policy owner, the insured life, and the beneficiary.
So you can't "have a policy" in someone else's name.
If his MOTHER is the policy owner, and HIS life is insured, SHE is the only person who can change the beneficiary on the life insurance policy. If he changes it now, it would say "beneficary changed to Jane Smith" or whatever your name is.
If YOU want a life insurance policy on him, with you as beneficiary, YOU can buy a policy and be the policy owner, HE can be the insured life, and YOU can change the beneficiary.
ONLY THE POLICY OWNER CAN CHANGE THE BENEFICIARY. And the policy owner doesn't have to be the insured life. And the policy owner can change it every single day of the year if they want to, so if it's changed today, there's no guarantee that it won't be changed to someone else tomorrow. That's the point, in the SPOUSE owning the policy - even if you get divorced, and he dies, YOU'LL still get the money.
And for the record, most states MANDATE that the spouse MUST inherit the retirement plan - you can't change it to someone besides the spouse. |
|
Security Lady
|
it would look like standard contract paperwork and it would list beneficiaries, in order and % of benefits- example
#1 wife 100%
#2 mom 100%
#3 john doe 50% jane doe 50%. Why not suggest that he list you first and his mother second- which is what my husband did that way in case you for example die before him and he does not change the policy it would go to her. Hope it works out okay- men can be a bit silly about these things- good luck :-) |
|
Insurance
|
Insurance companies will sent out endorsement letter to notify policy holders for any amendments made. And this letter will be sent out once the insurance companies accepted the amendment.
This letter will be an addendum to the original policy.
In your case it sounds like the current beneficiary is your mother in law and you want it to be your name. If your husband already made that amendment then the insurance company will issue a letter to state that in 2-3 weeks time addressed to your husband.
The letter will look like this
from insurance company
to your husband
re: Endorsement for Nomination of Beneficiary
YourName :
Your Share : %
Your Current Address
Your ID :
The letter should reach your husband soon |
|
kutiekat_2000
|
I'm a licensed insurance agent. My first question is who is the owner of the policy? Is it your husband or the company he works for? Second, it's not clear, but I am assuming that your mother-in-law is the beneficiary of the policy. Meaning if your husband should die your mother-in-law would recieve "X" amount of dollars.
If that is the case it does make sense for your husband to change the beneficiary on the policy. However, as an agent I definitely, suggest that you and your husband have an individual term policy (not whole life or universal life), meaning both you and him own the policy, that way if leaves his job you both are still covered just in case of a premature death if you have not already. The coverage on each other amount should be 10 to 12 times each other's annual salary. For example, if your husband makes $50K the face amount should be at least $500,000.
So if the life insurance coverage you're talking about is provided by his employer, someone in human resources department should be able to direct him to correct course of changing the beneficiary. In this case your husband does not own the policy, his employer does. His employer should be able to provide the documentation which provides the face amount and any listed beneficiaries.
Hope I've been helpful. |
|
Morgan M
|
If you happen to live in a community property state, you can simply call the insurance company and ask for a copy of the policy. Ask.com links to a fairly complete listing of community property states. |
|
aunt
|
My nieces husband died about 1 week ago. He hadn't changed the beneficiary to his wife's name. They had been together 3 yrs., But married only 7 months. They had 1 month old baby. They live in CA. Does my niece stand a chance to the life insurance? Thanks. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
6 | 30 minutes(s) ago
| | | |
6 | 52 minutes(s) ago
| | | |
6 | 3 hour(s) ago
| | | |
6 | 7 hour(s) ago
| | | |
6 | 9 hour(s) ago
| | | |
6 | 1 day(s) ago
| | | |
6 | 6 day(s) ago
| | | |
6 | 2 week(s) ago
| | | |
6 | 3 week(s) ago
| | | |
6 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
