If someone else wants to take out a life insurance on your life, your agreement and an explanation of the reason for the insurance (such as a business relationship) would be required→ Read More
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Proceeds of a life insurance claim are generally not subject to federal income tax if it is paid to a named beneficiary→ Read More
Social security payments have no effect on the beneficiary of a life insurance policy→ Read More
Generally, a policy has a beneficiary and a contingent beneficiary→ Read More
My Sister And I Were Listed By My Deceased Father As Beneficiaries. The Insurance Company Paid The Proceeds To My Sister Because She Was Listed First. Is This Right?
If you were both listed as primary beneficiaries you and your sister should have shared the proceeds→ Read More
Naming Beneficiary(Ies)in LIfe Insurance. Should I name that person as the beneficiary of my life insurance or make it payable to my estate and have it distributed according to my will? Does the beneficiary have to be a relative?
When you apply to take out a new life insurance policy, the insurance company requires that the beneficiary (or beneficiaries) have an insurable interest in the insured. You can have multiple beneficiaries. Your beneficiary does not have to be related to you.→ Read More
If I am living with someone in a non-marital relationship, can I buy insurance on that person or have my partner as my beneficiary?
If you are living with someone in a non-marital relationship, and you are buying a new life insurance policy, there is usually a requirement that the person named as beneficiary have an insurable interest in the life of the insured.→ Read More
I Just Discovered That I Was The Sole Beneficiary For A Policy Purchased By A Distant Relative Years Ago. How Do I Find Out If I Have Any Money Coming?
If you know the name of the insurance company, they should be able to check through their records and locate it – though for policies taken out long before the time of computers, it may take longer to search→ Read More
I Can’t Find My Dad’s Insurance Policy And Don’t Know What Company He Had It With. What Should I Do?
Without knowing more information, there are several possibilities regarding the status of this policy→ Read More