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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby franky64 » Fri Aug 17, 2012 5:38 pm

Can my ex-wife keep a life insurance policy on me, after we divorced? Wouldn't the policy belong to me, allowing me to change beneficiaries? She thinks she owns the policy. It was not named in any divorce settlement.

I paid for the policy initially. Can I take control of it and change it or cash it in ?
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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby fabrice » Fri Aug 17, 2012 5:45 pm

You can take out a life insurance policy on anyone. I have one on my ex-girlfriend from highschool that I took out 20 years after we dated. I want to have the last laugh.
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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby ambrosi » Fri Aug 17, 2012 5:52 pm

If you paid for it, it's yours. It is illegal to buy insurance on another person without their signature. When that other person tries to cash his in, they won't pay without her signature, no matter how much he paid!

You can name any benificiary you like, simply call the agency, get the new benificiary form, return it signed and get an updated copy of the policy.

Her copy will become null and void.
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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby jud73 » Fri Aug 17, 2012 5:53 pm

Policy holder can change the beneficiary during the validity of the policy. Since you have divorced your wife, you can change the beneficiary so that the benefits of the insurance either paid to you or the beneficiary named in the policy i.e. the new beneficiary.
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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby telutci30 » Fri Aug 17, 2012 6:00 pm

It depends on who owns the policy. Call your agent. If you are the policy owner, you can change the beneficiary at any time.
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Can my ex-wife keep a life insurance policy on me, after we divorced, with her as beneficiary ?

Postby ailill42 » Fri Aug 17, 2012 6:03 pm

Yes as long as she pays premiums.
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