by Guest » Mon Sep 14, 2009 09:18 pm
My grandmother purchased a policy on me which is paid in full. She died last year. I received a copy of the policy & was shocked, when I found my mother listed as the beneficerary and my step father, "who also was the agent who sold her the policy years ago" listed as the owner. The policy was changed shortly after she passed away. I do not have a good relationship with either. Is this legal? I thought that after she passed I as the insured would have became the owner.
Posted: Fri May 25, 2012 11:44 pm Post Subject:
Thanks for catching my error. My point was simply that that she probably didn't get ownership of the policy because her dad did nothing to help make this happen.
Either, he didn't think about it or he didn't care about it, or he wanted his wife to be the one to get the policy.
Posted: Sat Jul 28, 2012 05:42 pm Post Subject: beneficiary
in texas: my sister-in-law changed her beneficiary on her insurance on 07-17-12 and died on 07-25-12. Since this change was not effective for 30 days, will the policy revert back to the original beneficiary?
Posted: Sun Jul 29, 2012 04:05 am Post Subject:
Since this change was not effective for 30 days, will the policy revert back to the original beneficiary?
Who told you this? That is absolutely untrue. If the change of beneficiary was properly submitted -- generally requiers using the insurance company's specific form -- the change becomes effective on the day it is signed by the policy owner (a few companies might make the change effective on the day they receive the form, but this is the exception, not the rule).
There is NEVER a 30-day waiting period.
Posted: Thu Oct 27, 2016 08:38 am Post Subject: policies
my mom recently died. she was paying monthly premiums on several of her children and grandchildren. What happens to those insurance policies now that she has died?
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