My fiance's parents have a life insurance policy on him. We recently had a baby and are now getting married. Who would then be the beneficiary?
Question Details: My fiance's parents took out a life insurance policy before he was 18 and renewed it about 2 years ago. We now have a baby and are in the process of getting married. Who would be the beneficiary to his insurance? Will his parents still be the beneficiary? Will his insurance be void because he got married? or Will it roll over to either me or his daughter? What will happen to the insurance?
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Now that he is over 18, he can change the beneficiary. His parents are the beneficiary until he changes it on the policy.
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