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Anyone deal with a divorce attempting to collect on a policy after they've been divorced from the ex-spouse that just passed?
Had an interesting claim this week.
Had an interesting claim this week.
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Making payments doesn't mean she was the owner. If she is the owner/bene and he's the insured, they can't/won't.As you know I am not an agent. Just curious here.
If making payments means she is the owner of the policy and she had a legitimate insurable interest in the decedent when the policy was issued, how can the courts take the money away from her?
Anyone deal with a divorce attempting to collect on a policy after they've been divorced from the ex-spouse that just passed?
Had an interesting claim this week.
As you know I am not an agent. Just curious here.
If making payments means she is the owner of the policy and she had a legitimate insurable interest in the decedent when the policy was issued, how can the courts take the money away from her?
I have two clients who were ordered by the court to purchase and maintain a specific death benefit of life insurance until the children graduate from college as part of the divorce decree.
Divorce does not necessarily eliminate one's insurable interest in the life of the former spouse.
I figured that, I had this same discussion, with the sister of the insured a few weeks ago. The named bene is divorced from her brother, but this policy was not referenced in the divorce decree.Well, the company will be taking a little different view. If the divorce papers do not call out this policy and direct it to the primary, then the company says it will distribute funds to the contingents.