My mother in law took out two life insurance policies...one if something happens to my husband, she gets the money, and one if something happens to my daugher, she gets money? It just seems a little strange, but I don't know???
2007-11-06 13:08:05 · 5 answers · asked by shannapye 1 in Business & Finance ➔ Insurance
Yea, it's strange, rude and offensive. The beneficiary of the Life Insurance policy is supposed to be the one who has an insurable interest. That's you. You make the funeral arrangements and burial and have to survive on the proceeds till you find another way to survive. I would challenge the Insurance Co. and tell them you are going to write a letter to the complaint division at the Dept. of Insurance in your State. That's unreal she did that.
2007-11-06 13:15:16 · answer #1 · answered by Irish 7 · 0⤊ 3⤋
She is thinking ahead while you and your husband are not, or you'd be already insured.
Let me turn it round for you. Imagine she had done nothing, zilch, nada and in that case you would NOT have been confused and some people would not have been offended.
Hovewer if something was to happen to your daughter or your husband or both then you would be out of a family and out of money.
I would much prefer to be a bit confused, and have my mother in law get some money for it, then if she's a decent person I will get some financial help.
You can always kick up a fuss and DEMAND that she cancels the policy! Lol.
To "Irish", well perhaps in case of forking out money for a burial this girl wouldn't have a cent, then what? Ask the government to pay for it? Hope that's not the way in Ireland.
2007-11-07 20:46:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Ordinarily the owner of a life insurance policy has to have an insurable interest. It does seem strange that she would have a interest in insurance on a married son and granddaughter. Maybe she plans to give them as gifts.
2007-11-06 21:12:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If your daughter is a minor, your husband would have had to sign off on her application, and if she bought his policy while he was an adult, he would have had to sign off on that policy, too.
It's pretty common for parents and grandparents to buy life insurance policies for their kids and grandkids. I'm not saying it's smart, because it costs more than you can get out of it, in the long run, but it is pretty common.
2007-11-07 09:35:32 · answer #4 · answered by Anonymous 7 · 2⤊ 0⤋
Maybe she plans to kill both of them.
2007-11-06 21:15:30 · answer #5 · answered by shipwreck 7 · 0⤊ 0⤋