Hello, a friend of mine (a life long bachelor with no dependents) just passed. He had told me he had a life insurance policy the would take care of my girls. He did, but as it turns out, the company previously decided that my girls don’t have an insurance interest and they will pay out to the estate. I thought insurable interest is only for the policy holder and he can chose the beneficiary. I came across an email string from his insurance agents that (erroneously?) explain this. Someone should have at least told him he would need a will if it pays to the estate. He took the policy out himself and there is no written will to be found, but there is a clear pattern of intent.
Posted over 1 year ago
Answer by Katherine MacRae
Posted about 1 year ago
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