by Guest » Mon Nov 12, 2012 05:25 pm
hi, We live in NYC and my sister passed away about a month ago. A month prior to that she was married. My mother is 100% beneficiary in her life insurance policy. Is her new husband legally entitled to any or part of this policy?
Posted: Mon Nov 12, 2012 09:18 pm Post Subject:
Not unless he was renamed as beneficiary, or it is a group life policy that makes a spouse the default beneficiary.
Posted: Fri Dec 21, 2012 06:32 am Post Subject:
Life insurance can be defined as a contract between an insured or policy holder and the insurance provider. Under this contract the insurer promises to pay the chosen beneficiary a sum assured or declared benefits upon the death of the insured person. Many other events such as critical illness or disability may also trigger payment if mentioned in the contract. The policy holder has to pay a premium amount at regular intervals or as a lump sum. This plan offers the policy owner "peace of mind", in knowing that the death of the insured person will not result in financial burden for his family and lenders.
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