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Life Insurance beneficiary

  • 11-12-2008 12:34pm
    #1
    danash
    Closed Accounts Posts: 93 ✭✭


    Hi - got no joy on AAM on this one - maybe you guys can help...

    I am separated from my wife but maintain several joint life insurance policies on property with my ex wife.


    Question is if she dies am I automatically the beneficiary as the second life insured or do we have to go through all the probate issues ?

    I would not expect my wife to willingly leave any funds to me from other parts of her estate but was wondering if these funds are ringfenced from her will ?

    We were legally married and have an informal separation agreement that does not address this point. We are likely to divorce next year.


Comments

  • #2
    McCrack
    Registered Users, Registered Users 2 Posts: 2,991 ✭✭✭McCrack


    It sounds as if youre planning something you shouldnt!!

    The obvious thing would be to check with your assurance provider.


  • #3
    danash
    Closed Accounts Posts: 93 ✭✭danash


    McCrack wrote: »
    It sounds as if youre planning something you shouldnt!!

    The obvious thing would be to check with your assurance provider.

    Ha - nothing sinister here ! but I see your point.


    The life company would just pay the money out - my question is to where it sits legally - as a benefit for me or as part of my wife's estate. There is a significant amount involved and lots of relatives on the other side. I pay all the premia so she cant cease the policies.


  • #4
    SATSUMA
    Registered Users, Registered Users 2 Posts: 706 ✭✭✭SATSUMA


    I assume that you would benefit because you have only an informal separation agreement. When you divorce this will be an issue that will be resolved as part of the divorce.


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