Life assurance, deceased beneficiary, insured still living
Discussion
Weird question that Google isn’t helping on.
Family member died last year, survived by his spouse, all relevant insurances etc. sorted out.
I’ve recently found two life insurances policies for the surving spouse, one she is the beneficiary of, so I’m assuming that will just go to her estate when the time comes, but on the other, the beneficiary is her late husband.
Is there something that needs done now to this policy to transfer the beneficiary to her / her estate or is it null and void? Can’t find any advice on this on line, all of his assets were to go to her in the will, and this is pretty much done, including probate.
Oddly this is with M&G, who know he is dead and paid out on his policies to her.
Family member died last year, survived by his spouse, all relevant insurances etc. sorted out.
I’ve recently found two life insurances policies for the surving spouse, one she is the beneficiary of, so I’m assuming that will just go to her estate when the time comes, but on the other, the beneficiary is her late husband.
Is there something that needs done now to this policy to transfer the beneficiary to her / her estate or is it null and void? Can’t find any advice on this on line, all of his assets were to go to her in the will, and this is pretty much done, including probate.
Oddly this is with M&G, who know he is dead and paid out on his policies to her.
Presumably if he remains named as beneficiary the money will go into his estate irrespective of Probate being achieved and then distributed according to how his wishes /will were laid out ?
As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
alscar said:
Presumably if he remains named as beneficiary the money will go into his estate irrespective of Probate being achieved and then distributed according to how his wishes /will were laid out ?
As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
That’s what I was hoping, that with a copy of the will the beneficiary could be changed, otherwise it seems a bit complicated.As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
It’s only a few grand, but they’ve paid for it.
Rough101 said:
alscar said:
Presumably if he remains named as beneficiary the money will go into his estate irrespective of Probate being achieved and then distributed according to how his wishes /will were laid out ?
As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
That’s what I was hoping, that with a copy of the will the beneficiary could be changed, otherwise it seems a bit complicated.As such they would feed into her estate !
Might be simpler to change now who the beneficiary is ?
It’s only a few grand, but they’ve paid for it.
alscar said:
I think the only stumbling block would be if the original beneficiary is named as being " irrevocable " but otherwise the Insurer will I think just give out a form to be signed and witnessed.
I’ll be writing to them on her behalf, as we are somehow locked out of their secure messaging system.Rough101 said:
Weird question that Google isn’t helping on.
Family member died last year, survived by his spouse, all relevant insurances etc. sorted out.
I'm sorry to hear about your family member's passing. For the life insurance policy where the beneficiary is the deceased husband, it generally becomes void unless the policy specifies otherwise. Typically, the spouse may need to contact M&G to inform them of the situation. They might allow for a change of beneficiary to the surviving spouse or her estate. It’s essential to check the policy terms and get in touch with the insurance company for clarification. As a full-time student with a part-time job, I often struggle to manage my assignments. I used UKWritings’ https://ukwritings.com/assignment-service Assignment Service for help, and I couldn’t be happier with the outcome. The writer followed all my instructions and delivered a high-quality assignment that was well-researched and properly cited. It was delivered before the deadline, and I’m very satisfied with the result. I highly recommend this service to other students.
I’ve recently found two life insurances policies for the surving spouse, one she is the beneficiary of, so I’m assuming that will just go to her estate when the time comes, but on the other, the beneficiary is her late husband.
Is there something that needs done now to this policy to transfer the beneficiary to her / her estate or is it null and void? Can’t find any advice on this on line, all of his assets were to go to her in the will, and this is pretty much done, including probate.
Oddly this is with M&G, who know he is dead and paid out on his policies to her.
Any update?Family member died last year, survived by his spouse, all relevant insurances etc. sorted out.
I'm sorry to hear about your family member's passing. For the life insurance policy where the beneficiary is the deceased husband, it generally becomes void unless the policy specifies otherwise. Typically, the spouse may need to contact M&G to inform them of the situation. They might allow for a change of beneficiary to the surviving spouse or her estate. It’s essential to check the policy terms and get in touch with the insurance company for clarification. As a full-time student with a part-time job, I often struggle to manage my assignments. I used UKWritings’ https://ukwritings.com/assignment-service Assignment Service for help, and I couldn’t be happier with the outcome. The writer followed all my instructions and delivered a high-quality assignment that was well-researched and properly cited. It was delivered before the deadline, and I’m very satisfied with the result. I highly recommend this service to other students.
I’ve recently found two life insurances policies for the surving spouse, one she is the beneficiary of, so I’m assuming that will just go to her estate when the time comes, but on the other, the beneficiary is her late husband.
Is there something that needs done now to this policy to transfer the beneficiary to her / her estate or is it null and void? Can’t find any advice on this on line, all of his assets were to go to her in the will, and this is pretty much done, including probate.
Oddly this is with M&G, who know he is dead and paid out on his policies to her.
Edited by ChristopherJohnson on Tuesday 22 October 10:47
Gassing Station | The Lounge | Top of Page | What's New | My Stuff