If I am beneficiary of my dad’s life insurance policy, are my sisters able to find out the amount of money I received?

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If I am beneficiary of my dad’s life insurance policy, are my sisters able to find out the amount of money I received?

I have already received the check. I feel he left it to me for a reason. I’m just curious if I withhold a large amount for myself, will they be able to contact anyone to see how much it was actually for? I sound greedy I’m sure but there are reasons I am beneficiary.

Asked on December 28, 2011 under Insurance Law, Minnesota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If I understand your question correctly, you are the only named beneficiary of the life insurance policy, but you are contemplating giving some to your sisters. If that is the case--if  you are the only named beneficiary--you have no obligation to provide any money to your sisters; and if you voluntarily choose to do so, they have no right to see a copy of the policy or check, or otherwise find out how much you received. (Unless they believe you somehow procurred the policy or your designation as sole beficiary by fraud or undue influence over your father and bring a lawsuit on that basis; if they do, there are then legal mechanisms by which they can get this information.)

On the other hand, if your sisters are beneficiaries, too, then even if the check was sent to you, it must be shared with them as directed by the policy, or in equal shares if the policy does not otherwise specificy.

If your father's estate was the beneficiary, then it will be distributed as per his will, if he has one, or as per the rules for intestate succession, if not.


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