This is a question about surrendering a life insurance police, but I have a problem.?
I have a dynamic life insurance policy that I was told I could surrender and use for my daughters college fund. The amount is nearly $7000. I am the owner of the policy and I am the one who is insured. Here is the problem: I got the papers in the mail that I need to sign and I saw that where the SPOUSE has to sign, it had my ex-husbands name. I called the insurance company and was told that because I bought the policy while I was married to him, it is considered community property (I live in a community property state) he has to sign the paper before I can send it back to the insurance company. Is this right? When we divorced he kept the house and land, his vehicle, his retirement and all his personal property, I got to keep my jeep, my retirement and my personal property. Wouldnt the insurance policy be considered MY PROPERTY? I really dont want to have to give him half when my daughter really needs the money for school.
2007-07-18
15:36:06
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2 answers
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asked by
Brown eyed girl
7
in
Law & Ethics