Life insurance beneficiary

UPDATED: Sep 30, 2022

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Life insurance beneficiary

I have placed my significant other as
my beneficiary on my life insurance
policy through my employer. Is there
any reason under Missouri law why she
shouldn’t be allowed to collect this
after my death?

Asked on February 5, 2017 under Insurance Law, Missouri


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

If you are considered to be the owner of the policy, then you can name any you choose as beneficiary of the ploicy. If your significant other tried to take a policy out on you, then they might have a problem since they would have to prove that they had an "insurable interest", which is a demonstrable interest in something that is covered by an insurance policy, the loss of which would cause some type of deprivation or financial loss. For example, the parent of a minor child or as spouse would have such an interest, as would a business partner.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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