What to do as an ex-spouse regarding a life insurance policy that was set up for our infant son who is now an adult?

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What to do as an ex-spouse regarding a life insurance policy that was set up for our infant son who is now an adult?

I am the beneficiary of my ex-husband’s life insurance – which was set up about 17 years ago when our son was an infant. I have paid the premiums all these years as he has been either unable or unwilling to do so. My question is, since I am an ex-spouse, will I be the beneficiary? He resides in Florida where the policy was set up. I ask because I am wondering about continuing to pay the premium since my son is now 18.

Asked on May 14, 2015 under Insurance Law, South Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

There are a whole lot of issues going on here.  First, who is the owner of the policy becuase if it is your husband then your divorce cut you off as the benficiary long ago unless you were redesignated as the benficiary thereafter.  Look at this policy within the terms of your divorce as well because I am sure that he was required to hold a policy for your benefit until your son was either 18 or 21. Check and if that is true then this policy may be worth keeping for the tems and amount so you would just have to make sure that you are properly made the benficiary.  Good luck.


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