Just went to medition on my divorce just wanted to know what does "Life insurance policies insuring WIFE life and all cash vaue.
Total Comments: 2
Posted: Tue Feb 02, 2010 06:48 am Post Subject: Life insurance
You must first tell us the beneficiaries in this policy. Does the policy cover your wife and are you the beneficiary in the policy? Providing us with this information is necessary to understand the situation.
Posted: Tue Feb 02, 2010 10:52 am Post Subject:
Hi Josie, welcome to the community forums!
You'd need to make sure that your life insurance benefits would go to the right people. A divorce decree waiver wouldn't be able to deprive a spouse of the life insurance benefits.
If your wife is the policy holder and you're the beneficiary, she might change the beneficiary status. If she doesn't change the beneficiary then the benefit would be rewarded to you after she passes away. It comes under the ERISA.
Posted: Tue Feb 02, 2010 06:48 am Post Subject: Life insurance
You must first tell us the beneficiaries in this policy. Does the policy cover your wife and are you the beneficiary in the policy? Providing us with this information is necessary to understand the situation.
Posted: Tue Feb 02, 2010 10:52 am Post Subject:
Hi Josie, welcome to the community forums!
You'd need to make sure that your life insurance benefits would go to the right people. A divorce decree waiver wouldn't be able to deprive a spouse of the life insurance benefits.
If your wife is the policy holder and you're the beneficiary, she might change the beneficiary status. If she doesn't change the beneficiary then the benefit would be rewarded to you after she passes away. It comes under the ERISA.
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