Can a policy owner change a beneficiary on a life insurance policy if the beneficiary is paying the premiums?

Answers:3   |   LastUpdateAt:2012-08-30 00:45:12  

Question
Donald
Asked at 2012-05-07 17:41:33
I say this because I have a friend in this situation. AIG has been taking automatic payments from your checking account each year. He broke with the policy owner over a year and the money is being taken from your checking account each month. The day the policyholder of the policy in the mail , locked himself in a safe. Anyway he has another girlfriend now and my friend thinks that may have changed the beneficiary on the policy to his new girlfriend. Is this possible without real politics ? Or do you just need the number of policies to do that ? If the beneficiary has changed , my friend has to call your bank immediately and have put a stop payment on the premium . It should also be a way for her to get her money back for all the months that she was not the beneficiary. Who knows , maybe he followed her as the beneficiary , as she has her children. But she still has that only in case he is making a fool of her.
Answer1SibylAnswered at 2012-05-25 21:23:42
She has been paying for politics for over a year since they parted

He is the owner of the policy

She has her children

She does not know who the beneficiary

Heavens, do not think he is making a fool of her - I think a fool in his own right.
Answer2VernaAnswered at 2012-06-12 20:14:07
Who is the policy ? There can be different people involved in a life insurance policy .

1 . ) The insured

2 . ) The policy owner

3 . ) The beneficiary

These can be different people. The policy owner is not necessarily the insured and not have to be the beneficiary , either . If the beneficiary was " irrevocable" , then there would have been able to change as the beneficiary. If she has a policy , she has to look at politics and see if she is the owner . If she is, then she can call and ask about who is the beneficiary.

She will not be able to get any of their money back.
Answer3skatergrlAnswered at 2012-08-30 00:45:12
yes they can. beneficiaries generally have no control over politics ... you just inherited MedlinePlus how / why you are paying for your insurance ?
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