Okay, here's the situation. A Colorado man gets divorced from his wife, the divorce is amicable so they do it minus a lawyer. He leaves her as the sole beneficiary on his vivacity insurance because they have two kids together. Meanwhile he get remarried and moves to Hawaii. Four years after the divorce he dies, and now the insurance company is claiming that there's an 1873 ruling on the Colorado books stating that if you want to leave your ex-wife as beneficiary, you enjoy to state it in your divorce agreement.
I follow that, but wouldn't the fact that he's very soon had FOUR YEARS to move the policy to reflect his contemporary situation matter?
Anyone next to divorce/legal expertise that can help me?
Answers: I don't believe such a decree exists. If this was true it would be messy. If the decedent's beneficiary request is not honored who is now the beneficiary? Children of the previous conjugal? Children of the new marriage ceremony? New wife? Decedents estate to be argued over by the survivors? What if there be yet another conjugal? As you can see it could get confusing.
Is it the insurance company specifically telling you this or someone told you that this is what the insurance company said? If it is the insurance company hold them put it in writing citing this 1873 canon.
Never heard of that imperative. Insurance policies are CONTRACTS. They MUST pay out to the name beneficiary.
So, who is it exactly they want to pay, the unsullied wife? The old kids? Have them spell out, surrounded by writing, exactly what they want to do and why. Then file a note of complaint with your state insurance department, including their explanation.
If someone BESIDES the insurance company is recounting you that the insurance company says this, I wouldn't believe them. Flat out. So if foreign wifey says, "the insurance company says", I don't estimate so.
You're right in identify the need for trial advice. Insurance contracts are contracts after adjectives. Even if we are familiar beside the law, insurance professionals are not equipped to present a legal inference on matters beyond adjectives knowledge. Find a attorney. Rethink103, Life insurance covers lots of different things. Since I'm from Wisconsin I'm not familiar beside the Colorado regulations, so I recommend you visit a adjoining life insurance agent. http://www.easylifeinsuranceguide.com/Co... They should know how to help you.
I am an insurance agent, and I can notify you that there is no such decree in my state. I don't know in the region of Colorado, but I wouldn't buy into what the company says short at least checking next to a local lawyer first.
I know this. In the state of GA, if you are scheduled as a beneficiary on a policy, you get the money unless you took place within their death (ie: kill them or arranged their killing).
In the future you can release yourself some trouble by always doing business beside reputable companies; and be sure to check their ratings through "standards and poors", "AM best" or some other rating company.
On a Side note, Colorado wasn't even a state until August 1, 1876, so a 1873 imperative would be kinda strange wouldn't it.
Hope this helps
Josh,
AIG American General
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I follow that, but wouldn't the fact that he's very soon had FOUR YEARS to move the policy to reflect his contemporary situation matter?
Anyone next to divorce/legal expertise that can help me?
What form of life span insurance is right for me and my husband?
Answers: I don't believe such a decree exists. If this was true it would be messy. If the decedent's beneficiary request is not honored who is now the beneficiary? Children of the previous conjugal? Children of the new marriage ceremony? New wife? Decedents estate to be argued over by the survivors? What if there be yet another conjugal? As you can see it could get confusing.
Is it the insurance company specifically telling you this or someone told you that this is what the insurance company said? If it is the insurance company hold them put it in writing citing this 1873 canon.
Never heard of that imperative. Insurance policies are CONTRACTS. They MUST pay out to the name beneficiary.
So, who is it exactly they want to pay, the unsullied wife? The old kids? Have them spell out, surrounded by writing, exactly what they want to do and why. Then file a note of complaint with your state insurance department, including their explanation.
If someone BESIDES the insurance company is recounting you that the insurance company says this, I wouldn't believe them. Flat out. So if foreign wifey says, "the insurance company says", I don't estimate so.
If you database a claim will your homeowners insurance walk up?
You're right in identify the need for trial advice. Insurance contracts are contracts after adjectives. Even if we are familiar beside the law, insurance professionals are not equipped to present a legal inference on matters beyond adjectives knowledge. Find a attorney. Rethink103, Life insurance covers lots of different things. Since I'm from Wisconsin I'm not familiar beside the Colorado regulations, so I recommend you visit a adjoining life insurance agent. http://www.easylifeinsuranceguide.com/Co... They should know how to help you.
Do you know of an insurance plan that covers...?
I am an insurance agent, and I can notify you that there is no such decree in my state. I don't know in the region of Colorado, but I wouldn't buy into what the company says short at least checking next to a local lawyer first.
I know this. In the state of GA, if you are scheduled as a beneficiary on a policy, you get the money unless you took place within their death (ie: kill them or arranged their killing).
In the future you can release yourself some trouble by always doing business beside reputable companies; and be sure to check their ratings through "standards and poors", "AM best" or some other rating company.
On a Side note, Colorado wasn't even a state until August 1, 1876, so a 1873 imperative would be kinda strange wouldn't it.
Hope this helps
Josh,
AIG American General
Resolved Questions: