My life insurance policy DD is paid from my wife’s bank account.

Bosie

Many years ago when I had debt problems to make sure the payment for my life insurance was paid, we set it up through my partners’s bank account.
The insurance company didn’t object, but now I’m thinking would there be a problem for my partner if anything happened to me?

It isn’t a big policy, just over thinking, they are getting the payments without fail, any thought please.

marcia_

Bosie said:

Many years ago when I had debt problems to make sure the payment for my life insurance was paid, we set it up through my partners’s bank account.
The insurance company didn’t object, but now I’m thinking would there be a problem for my partner if anything happened to me?

It isn’t a big policy, just over thinking, they are getting the payments without fail, any thought please.

 Don't see how it could cause problems. So long as they are making the payments it shouldn't matter.

tacpot12

Agree it shouldn't matter, but you could call them up and arrange for the DD to come from your own bank account. They won't mind and won't ask any questions. 

dunstonh

The insurance company didn’t object, but now I’m thinking would there be a problem for my partner if anything happened to me?

Nope. no issue

Brie

When my siblings and I reached a certain age my parents stopped having life insurance and instead bought health policies for us that they paid for for decades.  Never was an issue when any of us needed to claim.  

DullGreyGuy

As long as the premiums are being paid the insurer won't care who's account they are coming from.

SiliconChip

The most likely cause of a problem would be if your partner died before you, in which case her accounts would be frozen and the DD to pay your life insurance would fail. For this reason it would make sense to move payments either to your account or a joint account (the latter would become a sole account for the survivor on first death).

One other thing is that you say wife in the thread title but use partner in the post, are you actually married (or in a civil partnership)? If not then having Wills is an important factor too (as is having LPAs, but that's true for everybody).

Bosie

Sorry late getting back, thank you for your reply should be partner, we were married years ago, divorced and decided to live together.SiliconChip said:

The most likely cause of a problem would be if your partner died before you, in which case her accounts would be frozen and the DD to pay your life insurance would fail. For this reason it would make sense to move payments either to your account or a joint account (the latter would become a sole account for the survivor on first death).

One other thing is that you say wife in the thread title but use partner in the post, are you actually married (or in a civil partnership)? If not then having Wills is an important factor too (as is having LPAs, but that's true for everybody).

Bosie

Just like to say thanks for all replies, has helped.