Minor child contingent beneficiary

by bjamm1972 » Fri Jun 19, 2009 08:52 pm

there must be something that can be deone....i am in a stick situation right now too

Total Comments: 24

Posted: Fri Jun 19, 2009 08:52 pm Post Subject: Minor child contingent beneficiary

has anyone ever found out if a minor child has any rights to the benefits of his deceased fathers life insurance policy, if he is not the first beneficiary on the policy.

Posted: Fri Jun 19, 2009 09:59 pm Post Subject:

If he's not the 'first' beneficary, then are you saying the child was a contingent beneficary? If so, and the primary beneficary is alive, then no he has no rights to the proceeds of the policy...If on the other hand there is more than one person named as primary beneficarys then there would be an equal division of those beneficarys...

Please explain what you mean by

if he is not the first beneficiary on the policy.

Posted: Sat Jun 20, 2009 04:25 am Post Subject:

Bjamm,

You meant in your initial post that the primary beneficiary of the policy, i.e. you ex's father-in-law died before your husband, therefore your son autometically became the primary beneficiary of the policy if no-one else was named during this period. Your son then would be the rightful receiver of the death benefit.

Now, have you been told differently by anyone else? Is there anyone named as primary beneficiary in the policy?

You need to tell us lot more about your situation for us to help you. Please get back to us soon.

Posted: Sat Jun 20, 2009 06:29 am Post Subject:

Hi blamm1972..

I guess you're here to know something regarding a minor driver. But would you please post it within the "Message Body" box?

Steven

Posted: Sat Jun 20, 2009 06:37 am Post Subject:

I guess you're here to know something regarding a minor driver. But would you please post it within the "Message Body" box?



No, she was here to know about her son's rights as the secondary beneficiary on his father's life insurance. If you check in link in my post you would know.

Posted: Thu Jul 16, 2009 07:04 am Post Subject: Minor child as contingent beneficieary

The policy owner also may designate a contingent beneficiary who will receive the policy proceeds if the primary beneficiary should die before the insured. A contingent beneficiary, sometimes referred to as a secondary beneficiary or successor beneficiary, can receive the policy proceeds only if all designated primary beneficiaries have predeceased the insured. The policy owner can name any number of contingent beneficiaries and may decide how the proceeds are to be divided among the contingent beneficiaries. & if the minor children could be survivors, then a trustee contingent beneficiary should be named .

Posted: Tue Jul 21, 2009 07:30 pm Post Subject: Contingent beneficiary question

The father named a primary (wife) and a contingent (his sister) as the beneficiaries to a life insurance policy. In the interim, he and the wife divorced. At the time the policy was taken, the 2 children were minors. The father recently passed away and now the children (adults) want the proceeds of the life insurance policy. The ex-wife is still named as the primary beneficiary but is not entitled as she was not redesignated. All of the father's other assets were designated to the two adult children equally. What are the legal chances of contesting the contingent beneficiary by the two adult children?

Posted: Tue Jul 21, 2009 07:54 pm Post Subject:

abc123, there is a whole bunch of irrelevant information in your post.

Let's look at the relevant information.
1)The insured is dead.
2) The primary beneficiary, his ex-wife, is alive.

The ex-wife will get the death benefit.

Posted: Tue Jul 21, 2009 09:03 pm Post Subject:

abc123, there is a whole bunch of irrelevant information in your post

Doesn't hurt a bit abc to include all info you want to share...personally give me too much information rather than not enough.. :wink:


now the children (adults) want the proceeds of the life insurance policy.

As Ins Exp has said, they can want all they want, but unless the ex-wife gives it to them, their most likely out of luck...

The ex-wife is still named as the primary beneficiary but is not entitled as she was not redesignated.

Now what makes you think he had to 're' designate her as beneficary? Is this a life policy that the 'father' had with his employer? If so those some times are different. Or are you just assuming this? Has someone from the insurance company said that to you?

All of the father's other assets were designated to the two adult children equally

It's a darn shame he forgot about this policy...

What are the legal chances of contesting the contingent beneficiary by the two adult children?

They can contest all they want (and I certainly would), but chances of them winning are pretty slim...

Any chance ex-wife will feel any moral obligation to his children? Does she even know she is still the primary beneficary? What state are you in? (and again) Is this a group (thru his employer) policy or a private one?

Posted: Wed Jul 22, 2009 05:06 am Post Subject:

Actually the contingent beneficiary too has no right over the policy benefits since the primary beneficiary is still alive. Therefore, contesting her would be futile.

However, you can take your chance in challenging the ex-wife but as the other posters have mentioned that too might not yield a result.

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