by Guest » Wed Dec 08, 2010 01:12 pm
I live in New York State. My ex-husband left me as beneficiary of his life insurance policy. He was currently married with no children from his second wife, but we have four children together. I would like to know if I could still collect from this policy.
Posted: Wed Dec 08, 2010 07:34 pm Post Subject:
If he has left you as beneficiary then yes you will get the money. Is life insurance required in the divorce decree? If it is than he needs to leave you as beneficiary, or else name you beneficiary on a new policy up to the agreed upon death benefit amount.
Posted: Thu Dec 09, 2010 02:09 am Post Subject:
If you're still the beneficiary of his policy then you needn't worry at all. Make sure get in touch with his agent and get things clarified. Yeah, it could also be in the same way as BNTRS has described - like you could be beneficiary for a new policy.
Posted: Thu Dec 09, 2010 10:33 am Post Subject: Followup to the question Ex-husband left policy in my name.
One important factor that I forgot to mention is that he died on september 16, 2010. Unfortunately, we have been divorced for 10 years and it does not state in the divorce decree. Metlife stated that since we are divorced, then I am not entitled to the money. He also left me as his wife and beneficiary on another policy. Metlife stated that $50,000 will go into an estate and the court will appoint someone over the estate. I am maining concerned for my children.
Posted: Mon Dec 13, 2010 04:35 pm Post Subject:
According to the NY Estates, Powers and Trust Laws § 5-1.4, a divorce order, in the absence of any order to the contrary, revokes any beneficial interest in a life insurance policy.
Unless your husband created a new beneficiary designation after your divorce, then NY law prohibits MetLife from paying the money to you. It will be settled in the Probate Court. There, you may file a claim against his estate in the name of his minor children. If any of your children are now adults, they would have to file their own claim.
Posted: Tue Dec 14, 2010 07:39 pm Post Subject:
Well done, Max.
Posted: Tue Dec 14, 2010 08:25 pm Post Subject:
Thanks, Mark. Although my posts sometimes provoke "spirited" replies, I try to provide the most accurate information at my disposal. When it comes to insurance, even agents often "get it wrong" and when they pass that information on to clients, it can cause all sorts of grief down the road, both for insureds and insurance companies.
I don't want to see anyone abused by an agent or an insurance company. Correct knowledge applied correctly will usually result in the proper outcome for all concerned.
Posted: Tue Dec 14, 2010 10:16 pm Post Subject:
Good job, Max!
Posted: Tue Sep 11, 2012 05:46 pm Post Subject: life insurance on x-spouse
In my recent divorce my x has to pay me $500 per month until one of us dies-my question-can i take out a life insurance policy on him since i am younger & disabled.which means if he dies-i stop getting anything.
Posted: Wed Sep 12, 2012 10:16 am Post Subject:
can i take out a life insurance policy on him since i am younger & disabled.which means if he dies-i stop getting anything.
Yes, this legally-binding court order creates an "insurable interest" in his life. However, he will have to cooperate in that process in order for you to obtain the insurance. He does not have to cooperate and you cannot force him to.
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