Yes, spousal consent is required on any life insurance policy. I would suggest that you call the company issuing the policy or look at the beneficiary form. The form should confirm that spousal consent is required.
He can't do anything about it. She's the owner and the one who pays the premiums for the policy. However, if he's listed as an irrevocable beneficiary, then she would need his consent to change the beneficiary.
Yes. A spouse has to sign off on being removed from an insurance policy, and believe you-me, the carrier will ask a lot of questions why (Some are simple like naming the children over the spouse, and others are a little more "complicated.")
He can but it will not do him any good, the owner of the policy has the say on to who the beneficiary will be, not any one else unless in some cases of divorce there is a court order stating who the beneficiary must be. its the same if a business takes out a policy on an employee, the business owns the policy thus giving then the right to name the beneficiary, unless there is a court order the owner can do what ever they want.
May 30th, 2008 at 7:33 am
I don't think he can…but I think the best person to ask would be a lawyer. Good luck.
May 30th, 2008 at 7:33 am
Yes, I think so. Most plans require a spouse's signature when making changes like that.
May 30th, 2008 at 7:33 am
Yes, spousal consent is required on any life insurance policy. I would suggest that you call the company issuing the policy or look at the beneficiary form. The form should confirm that spousal consent is required.
May 30th, 2008 at 7:33 am
If the wife owns the policy, she can choose any person she wants as beneficiary.
May 30th, 2008 at 7:33 am
If she owns the policy then he has no say in who is beneficiary. Spousal consent is usually used in 401ks and ira's through work.
May 30th, 2008 at 7:33 am
He can't do anything about it. She's the owner and the one who pays the premiums for the policy. However, if he's listed as an irrevocable beneficiary, then she would need his consent to change the beneficiary.
May 30th, 2008 at 7:33 am
Yes. A spouse has to sign off on being removed from an insurance policy, and believe you-me, the carrier will ask a lot of questions why (Some are simple like naming the children over the spouse, and others are a little more "complicated.")
May 30th, 2008 at 7:33 am
He can but it will not do him any good, the owner of the policy has the say on to who the beneficiary will be, not any one else unless in some cases of divorce there is a court order stating who the beneficiary must be. its the same if a business takes out a policy on an employee, the business owns the policy thus giving then the right to name the beneficiary, unless there is a court order the owner can do what ever they want.