Q. I always see on Forensic Files and other shows about murderers, they are able to purchase a life insurance policy for their spouse or relative without the person's knowledge. Then they kill the person for the money. Why are they able to buy a life insurance policy without the person knowing about it? Wouldn't that prevent some murders if there were better procedures put in place?
The shows I am talking about are shows abotu real people and real murders. Forensic Files, Snapped, even dateline.
The shows I am talking about are shows abotu real people and real murders. Forensic Files, Snapped, even dateline.
A. Not legally. The application would have had to have the insured's signature. Otherwise, the signature is forged, or the insured was enticed to sign something without knowing what the instrument was.
For larger life insurance policies, there are medical exams, blood tests, EKG's, etc., to qualify the insured for the coverage. No one can go through those tests without knowing the reason.
The insured could have bought a large policy, and made the spouse, or other perpetrator with an insurable interest the beneficiary.
If somebody wants another out of his/her life so bad that they would resort to muder, the insurance isn't going to make that much of a difference. The crime will probably be attempted anyway.
It kind of sounds like you want to put blame on the insurance companies; just like people put the blame on guns. That would be the same as blaming Ford Motor Company if someone driving a Ford product purposely ran over and murdered his victim.
It's not the insurance company's fault. It's not the gun's fault. It's not the vehicle's fault, but the blame should go to the one who committed the despicable crime - the perpetrator.
For larger life insurance policies, there are medical exams, blood tests, EKG's, etc., to qualify the insured for the coverage. No one can go through those tests without knowing the reason.
The insured could have bought a large policy, and made the spouse, or other perpetrator with an insurable interest the beneficiary.
If somebody wants another out of his/her life so bad that they would resort to muder, the insurance isn't going to make that much of a difference. The crime will probably be attempted anyway.
It kind of sounds like you want to put blame on the insurance companies; just like people put the blame on guns. That would be the same as blaming Ford Motor Company if someone driving a Ford product purposely ran over and murdered his victim.
It's not the insurance company's fault. It's not the gun's fault. It's not the vehicle's fault, but the blame should go to the one who committed the despicable crime - the perpetrator.
Can your homeowners insurance policy be cancelled if you get a big dog?
Q. I know someone who had a homeowners insurance policy that was cancelled because of a big dog that her friend gave her. Is that allowed?
A. Yes very much so. Certain breed's of dogs will void a home owners insurance policy. This is based usually on vicious breeds who tend to generage alot of liability claims. It states this clearly in your policy. If your friends looks at her HO3 policy she will see which specific breeds will cancel her policy. Also many HO3 policies place exclusions against trampolines & swimming pools.
If she chooses to keep the dog - she will have to go through an excess/surplus company to get her homeowners insurance. She will pay about 3x the amount she was paying prior. Its up to her if the dog is worth keeping.
If she chooses to keep the dog - she will have to go through an excess/surplus company to get her homeowners insurance. She will pay about 3x the amount she was paying prior. Its up to her if the dog is worth keeping.
Can a will override a life insurance policy regarding beneficiaries?
Q. My father in law had a life insurance policy that stated who the beneficiaries were. A few months ago he re-wrote his will and in the will stated that he no longer wants the original beneficiaries but rather some other ones. The policy was never changed, and he is now deceased. Do we go with the policy or the will?
A. The life insurance policy is a separate contract between the policy holder, your late father-in-law, and the insurance company. They pay the monies to the beneficiary stated on the policy regardless of what the will states. The policy is not part of the estate. You have to follow them both. The only time the life insurance monies would be divided amongst those named in the will is if the policy stated that the payment be directed to the policy holder's estate. (This is not that common.)
I know of a few people that had life insurance policies pay out to someone other than who was named in the will. In some cases it was because of the policy holder's wishes... and in other cases it was because the policy holder did not update the life insurance beneficiary information when there was an event in their life that changed their relations.
One specific case... a former girlfriend was paid a life insurance policy because a woman's husband neglected to update the policy when he got married to someone else years after it was first taken out. The wife had no claim against the insurance company.
I know of a few people that had life insurance policies pay out to someone other than who was named in the will. In some cases it was because of the policy holder's wishes... and in other cases it was because the policy holder did not update the life insurance beneficiary information when there was an event in their life that changed their relations.
One specific case... a former girlfriend was paid a life insurance policy because a woman's husband neglected to update the policy when he got married to someone else years after it was first taken out. The wife had no claim against the insurance company.
Would a will and life insurance policy be valid in a different state?
Q. If I make a will and a life insurance policy in Florida, would both of them be valid in Hawaii or would I need to update it? Sources?
A. The life insurance policy would be fine. You should check with a lawyer to see if the will is valid in Hawaii. States have different laws and rules about what makes a valid will.
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