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Beneficiary after divorce?

Scoflo
Scoflo Posts: 329 Forumite
Part of the Furniture 100 Posts Combo Breaker
edited 29 September 2012 at 4:43PM in Insurance & life assurance
Thanks............
:hello: Don't believe all you hear, spend all you have or sleep all you want:hello:

Comments

  • Scoflo
    Scoflo Posts: 329 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Can anyone comment? :)
    :hello: Don't believe all you hear, spend all you have or sleep all you want:hello:
  • ACG
    ACG Posts: 24,953 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Im not qualified and havnt seen policy docs so this is just a stab in the dark...

    If it is critical illness cover and it pays out the money will go to his estate. If you are divorced then this will mean his new wife (if he has married) or his children (if not) or a mixture of the 2 if he is married and were talking about a large sum assured (i believe over £250k). This all depends on the sum assured were talking but this will be correct (i beleive) for most people.

    This is all presuming there is no will and the policy is not in trust, otherwise it will go off the will/trust docs.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Scoflo
    Scoflo Posts: 329 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 September 2012 at 4:43PM
    Thanks.......................
    :hello: Don't believe all you hear, spend all you have or sleep all you want:hello:
  • ACG
    ACG Posts: 24,953 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    my limited understanding of wills is that they become null and void after a divorce unless it is specifically mentioned in the will.

    Ive got my study book (as i am studying towards becoming an advisor) but its at work so i cant double check it. But the fact one of you is in scotland may complicate matters slightly
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Scoflo
    Scoflo Posts: 329 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    He won't have a will, I would be really surprised.
    :hello: Don't believe all you hear, spend all you have or sleep all you want:hello:
  • Scoflo
    Scoflo Posts: 329 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I should say I am not really bothered, just interested. I'd be peeved if I got ill and paid off his mortgage but i wouldn't know if I was dead.......
    :hello: Don't believe all you hear, spend all you have or sleep all you want:hello:
  • ACG
    ACG Posts: 24,953 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    So if it didnt pay your mortgage off would you hang around as a ghost with unfinished business?

    Ask the question? Then at least you know whether to start your own policy and you cna decide whether it goes to your new husband or child.

    just a thought anyway.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Scoflo
    Scoflo Posts: 329 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 September 2012 at 4:43PM
    Thanks for taking the time. I really appreciate it.
    :hello: Don't believe all you hear, spend all you have or sleep all you want:hello:
This discussion has been closed.
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