Who has the right to life insurance proceeds – the named beneficiary or the wife?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Who has the right to life insurance proceeds – the named beneficiary or the wife?
My husband passed away and on his life insurance his sister was made beneficiary. We had planned on changing it but that didn’t happen. I do have a paper stating that he would like to have it changed to his wife, which was signed by us both and a witness.
Asked on January 2, 2011 under Insurance Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am so sorry for your loss. The general rule is that the insurance company is obligated to pay the proceeds of the insurance policy to the named beneficiary (which is the one listed on the designation of beneficiary form). Also generally speaking you have to use the form fromthe life insurance company. The paper that you have is not a valid Will because I am sure that it does not conform to the requirements of a Will. But I wonder if it can be used to show intent and if there may be a way to use it any other way or claim that it is a new designation and that it supersedes the old. But then you will have to make what is known as an adverse claim against the proceeds of the policy. You have to write to the insurance company and let them know that you are making a claim to the benefits of the policy as against your sister in law and that you demand that they interplead the find in to court until such time as the matter is ironed out. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.