If my dad had a life insurance policy that was purchased when he was married to my mom but many years later he remarried, who gets it?
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If my dad had a life insurance policy that was purchased when he was married to my mom but many years later he remarried, who gets it?
He passed away and no one new of this small policy but his new wife took it. Shouldn’t his kids or first wife get it?
Asked on November 19, 2011 under Estate Planning, Alaska
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your father had a life insurance policy on his life when he passed, the owner of the benefits of the policy would be the designated beneficiary under the policy. If you do not know who the beneficiary was, you need to contact the life insurance company that issued the policy for the designated beneficiary.
Under insurance law, the person entitled to the benefits of a life insurance policy on a person is the person specifically designated upon it to receive the benefits.
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