*Help/Advice Needed With Endowment Policy*

rjs

I have found myself in a bit of a dilemma & I could really do with some advice or help regarding my situation!

I have an endowment policy which is with Pearl and it is called a homebuilder. The problem is that the endowment policy is addressed to me, however it has my ex-girlfriend's name on the policy details.We split up more than four years ago and I wonder if she is entitled to half or part of the policy. It says on the policy on the life of myself and her and I wonder what this means. I would really like to know the following:

1. Is she entitled to anything on the policy and or is she only entitled to the
policy in the unfortunate case of one of our deaths?

2. How can I have her removed from the policy?

3. Do I need her signature of approval or can I change the terms and
conditions without her approval?

4. What happens when the the policy matures?

5. Do we both need to be present to receive it?

6. The name is not on the mortgage but on the endowment, does this entitle
her to the endowment only or a case to claim for some of the property?


I would be grateful for any help or advice, even if its to know who to speak to i.e. company/contact etc

rjs

If somebody has any help or answers on this I would be grateful.

hedgehunter_2

If the policy is joint life than it is a joint asset and you ex girlfriend have a joint interest in the policy.

You may be able to delete a life, or she can assign her beneficial interest to you. In either case you will need her permission.

If you do nothing this will become a problem at death or maturity.

Ho easy this is to solve depends on the terms you broke up under, and whether you reached a financial agreement regarding joint assets. It is relatively easy and quick to resolve if both parties co operate, and a solicitor can help you with the paperwork.