by meljoe2006 » Tue Jul 06, 2010 09:04 pm
i was dating my boss for 3 yrs and he really disliked his spouse he had alot at stake so he couldnt divorce so easily.. if we were both on ins policy as beni can either one of us be removed?
Posted: Tue Jul 06, 2010 09:37 pm Post Subject:
Yes, unless either of you was designated "irrevocable."
InsTeacher 8)
Posted: Tue Jul 06, 2010 10:26 pm Post Subject:
Ok, hold on a dawg-gone minute here...let me see if I'm understanding this, you are no longer dating your married boss, and you want to know if your name can be removed...from HIS wifes life ins. policy?
if we were both on ins policy as beni
Do I have this right? He hated his wife, (and any children he has with her) so badly that he had a life insurance policy on HER naming him AND his mistress as beneficarys? now, you're broke up and want to know if you can still collect on the WIFES life policy, when she dies? Seriously, is that what you're asking?Posted: Tue Jul 06, 2010 11:11 pm Post Subject:
As insurance teacher stated, unless one of you was named as an irrevocable beneficiary (kind of rare) then yes either one can be removed for any reason at any time and without your knowing it.
Posted: Tue Jul 06, 2010 11:57 pm Post Subject:
Lori, I think the OP was stating that the husband has a life policy naming his wife and mistress as beneficiaries... It isn't a life policy on the wife. At least that's what I thought the OP was referring to.
InsTeacher 8)
Posted: Wed Jul 07, 2010 10:36 am Post Subject:
Ok, I didn't read it that way, although that makes a 'little' bit more sense :roll:
Posted: Fri Jul 09, 2010 05:13 am Post Subject:
It doesn't make much sense either way. What knucklehead is going to name both a mistress and a wife as beneficiaries on the same policy. The jerk deserves to be strung up by an unnamed, unique part of the male anatomy.
Posted: Sat Jul 10, 2010 04:28 am Post Subject:
Hey, the guy takes care of all the women in his life, give him some credit :lol: :wink:
Posted: Sat Jul 10, 2010 09:27 am Post Subject:
His credit is probably over the limit already.
Posted: Sat Jul 10, 2010 11:19 am Post Subject:
Hey, the guy takes care of all the women in his life, give him some credit
Yupp...he deserves some credit...more specifically since he didn't cheat on his wife when it came to financial responsibility.
Posted: Sat Jul 10, 2010 09:21 pm Post Subject:
he didn't cheat on his wife when it came to financial responsibility.
How do you figure that? If he's spending time/money with a third party girlfriend, financial resources are being diverted from his legal spouse. If he's attempting to name both as beneficiaries on a single life policy, his wife is not getting 100% of the death benefit. Not that she has to, but when I name my wife as my beneficiary, I'm not naming anyone else as primary.
I've yet to have a client ask if it's OK to add a girlfriend as a primary (or contingent) beneficiary, and I first started doing this in 1980.
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