If my ex-wife was awarded an existing life insurance policy when we divorced, now that are children are grown can she still keep the policy on me?

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If my ex-wife was awarded an existing life insurance policy when we divorced, now that are children are grown can she still keep the policy on me?

All my children are now over 18 years old and are out of school, so my child support obligations have ended. She is remarried and no longer has a vested interest in my life,

Asked on December 8, 2014 under Family Law, Georgia

Answers:

Bruce Provda / Provda Law Firm

Answered 6 years ago | Contributor

From the facts you stated, she no longer has an interest in insuring your life.  First thing you should do is read  the divorce settlement agreement to be sure there is no language in there that negates this theory, but more than likely this was to be only for the period in which you were liable to pay child support.  

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If the life insurance was in effect to cover her and the children during your payment of child support and that event has ended, then no, she no longer has an "insurable interest" in your life and you may change the beneficiary of the policy so long as your agreement and the law in your state as it relates to it does not provide otherwise. You can name some one a beneficiary even if they are your ex wife but the law generally requires that you re name them after the divorce to show that intent.  That is because people sometimes forget to change the beneficiary that was listed when they were married and the law does not want them to be unjustly enriched. Good luck.


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