Can an employer be the beneficiary of a life insurance polic
by Guest » Thu Nov 11, 2010 03:43 pm
Can an employer be the benficiary of a life insurance without the knowledge of the insurer or the employee.
Total Comments: 11
Posted: Thu Nov 11, 2010 04:17 pm Post Subject:
In some very limited circumstances it is possible for one to not know that there is insurance on their life.
I don't know how this knowledge would be hidden from the insurance company.
Posted: Thu Nov 11, 2010 05:23 pm Post Subject: Lets say
A company insured your love one with the knowledge of the insurer knowing the beneficiary is your wife but before filing the insurance the employer change the benficiary to his name.
Posted: Thu Nov 11, 2010 05:28 pm Post Subject: Can this be possible?
I know my husband get an insurance before he board a boat to Alaska, he sign all his papers to his boss office but the boss denied any insurance but my husband told me he was insured for 2 million. After one month my husband met an accient inside the boat and died, i did not get nothing as there is no insurance as they said but after 6 months the boat is still working in Alaska, which my husband sais on his letter will go to junk and the office turn into a big building with big name on the front.
Posted: Thu Nov 11, 2010 05:34 pm Post Subject:
Only the owner can change the beneficiary. If the company owned the policy, they can change the beneficiary.
This sounds very fishy. If it is for $2,000,000 and there was an "accident", you should definitely be investigating further.
Posted: Thu Nov 11, 2010 06:32 pm Post Subject:
It is not possible, as the original question asks, for the insurance company to NOT know who the beneficiary is. They are the one to whom the information is communicated.
Generally, it is not possible for the employer to be the beneficiary of a group life insurance policy. It IS possible for the employer to be the beneficiary of a "key person" policy. But a common employee is not a key person.
None of this sounds right, as others have commented in their various posts.
You may need to hire an insurance investigator (like Mark Colbert) to track down the the details.
Posted: Thu Nov 11, 2010 11:47 pm Post Subject:
There is something really "fishy" about the Alaska story and the $2 million. I read the post and immediately caught the accidental death suddenly occurring once a big old fat life insurance policy was taken out on the husband.
I would absolutely call a whole lot of people, including the insurer, the state police, the DAs office and anyone else that I could think of that could get in the middle of this.
Unless, of course, the OP is full of it.
InsTeacher 8)
Posted: Fri Nov 12, 2010 01:38 am Post Subject: Life Insurance and 2 million
To the INS Teacher, wish I am full of it, trouble is, this happen way back in 1994 and still it won't get out of my mind and still hunting me, not the 2 million but the death of my husband. Maybe he wants me to do something but I tried everything but the Company won't even talk to me and answer my question when I am asking about the insurance that my husband sign two days before he went to Alaska. After a few more year the company sold the big fish trawler to the coastguard.
Wish I have any evidence, or the policy on hand, all I had is the word of my late husband that he was insured for 2 million before he left that month of September 18,1994 and came back in a coffin a month after. on October 25, 1994. too bad for me....the company got rich on the life of my husband.
Posted: Fri Nov 12, 2010 08:22 am Post Subject:
You could have saved us all a lot of "grief" by stating that this was 16 years old. Why would this still be bothering you after all this time? It was either a problem in 1994 and you did something about it then, or it was a non-issue in 1994 and there is nothing you can do about it now.
Posted: Fri Nov 12, 2010 06:26 pm Post Subject:
Max is correct. The statute of limitations has run it's course on this and unfortunately, you have no legal recourse. This should have come to light 16 years ago.
I'm curious... when this did occur, you didn't pursue it? To me, and this is my opinion, this would have been something where I would have been screaming like a 7-year old girl that just had her doll taken away had this gone down the way you stated.
In no way am I trying to impugn your integrity or question your honesty, I just think the whole thing's a little weird and I feel your pain in terms of the loss of your husband... but c'mon-
You didn't question this at all beyond what you stated in your post? No lawyers? No police or other investigation? No nothing???
InsTeacher 8)
Posted: Sat Nov 20, 2010 05:12 am Post Subject:
There is no statue of limitation on murder.
Unfortunately, I doubt that anything can be proven after so long a period of time has passed.
Posted: Thu Nov 11, 2010 04:17 pm Post Subject:
In some very limited circumstances it is possible for one to not know that there is insurance on their life.
I don't know how this knowledge would be hidden from the insurance company.
Posted: Thu Nov 11, 2010 05:23 pm Post Subject: Lets say
A company insured your love one with the knowledge of the insurer knowing the beneficiary is your wife but before filing the insurance the employer change the benficiary to his name.
Posted: Thu Nov 11, 2010 05:28 pm Post Subject: Can this be possible?
I know my husband get an insurance before he board a boat to Alaska, he sign all his papers to his boss office but the boss denied any insurance but my husband told me he was insured for 2 million. After one month my husband met an accient inside the boat and died, i did not get nothing as there is no insurance as they said but after 6 months the boat is still working in Alaska, which my husband sais on his letter will go to junk and the office turn into a big building with big name on the front.
Posted: Thu Nov 11, 2010 05:34 pm Post Subject:
Only the owner can change the beneficiary. If the company owned the policy, they can change the beneficiary.
This sounds very fishy. If it is for $2,000,000 and there was an "accident", you should definitely be investigating further.
Posted: Thu Nov 11, 2010 06:32 pm Post Subject:
It is not possible, as the original question asks, for the insurance company to NOT know who the beneficiary is. They are the one to whom the information is communicated.
Generally, it is not possible for the employer to be the beneficiary of a group life insurance policy. It IS possible for the employer to be the beneficiary of a "key person" policy. But a common employee is not a key person.
None of this sounds right, as others have commented in their various posts.
You may need to hire an insurance investigator (like Mark Colbert) to track down the the details.
Posted: Thu Nov 11, 2010 11:47 pm Post Subject:
There is something really "fishy" about the Alaska story and the $2 million. I read the post and immediately caught the accidental death suddenly occurring once a big old fat life insurance policy was taken out on the husband.
I would absolutely call a whole lot of people, including the insurer, the state police, the DAs office and anyone else that I could think of that could get in the middle of this.
Unless, of course, the OP is full of it.
InsTeacher 8)
Posted: Fri Nov 12, 2010 01:38 am Post Subject: Life Insurance and 2 million
To the INS Teacher, wish I am full of it, trouble is, this happen way back in 1994 and still it won't get out of my mind and still hunting me, not the 2 million but the death of my husband. Maybe he wants me to do something but I tried everything but the Company won't even talk to me and answer my question when I am asking about the insurance that my husband sign two days before he went to Alaska. After a few more year the company sold the big fish trawler to the coastguard.
Wish I have any evidence, or the policy on hand, all I had is the word of my late husband that he was insured for 2 million before he left that month of September 18,1994 and came back in a coffin a month after. on October 25, 1994. too bad for me....the company got rich on the life of my husband.
Posted: Fri Nov 12, 2010 08:22 am Post Subject:
You could have saved us all a lot of "grief" by stating that this was 16 years old. Why would this still be bothering you after all this time? It was either a problem in 1994 and you did something about it then, or it was a non-issue in 1994 and there is nothing you can do about it now.
Posted: Fri Nov 12, 2010 06:26 pm Post Subject:
Max is correct. The statute of limitations has run it's course on this and unfortunately, you have no legal recourse. This should have come to light 16 years ago.
I'm curious... when this did occur, you didn't pursue it? To me, and this is my opinion, this would have been something where I would have been screaming like a 7-year old girl that just had her doll taken away had this gone down the way you stated.
In no way am I trying to impugn your integrity or question your honesty, I just think the whole thing's a little weird and I feel your pain in terms of the loss of your husband... but c'mon-
You didn't question this at all beyond what you stated in your post? No lawyers? No police or other investigation? No nothing???
InsTeacher 8)
Posted: Sat Nov 20, 2010 05:12 am Post Subject:
There is no statue of limitation on murder.
Unfortunately, I doubt that anything can be proven after so long a period of time has passed.
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