Life can take unexpected turns. Perhaps a relationship has soured, or a family member has made poor decisions. In such cases, you might find yourself considering the removal of someone from your life insurance policy.

Understanding the Process

While removing someone from an insurance policy is possible, remember that the former beneficiary can contest your decision. Your case will be stronger if you are of sound mind and body. Also, ensure you are not violating any court orders while making the revocation. First, determine whether the person in question is a revocable or irrevocable beneficiary. An irrevocable beneficiary cannot be removed without their consent. You might be unable to remove a spouse from your life insurance until the divorce is finalized. Also, if your insurance policy conflicts with your will, an executor will override the policy in favor of the will. This means you must keep your current will to reflect your life insurance policy. Remember, nothing can be changed after you are deceased.

Brokers Insurance Agency: Serving Lincoln, NE

Life changes. People divorce, remarry, have children, adopt, or take on stepchildren. In any case, you’ll need a suitable life insurance policy for these people. If you are in the Lincoln, NE area and are in the life insurance market, please get in touch with Brokers Insurance Agency. We will connect you with a knowledgeable and courteous agent who will do all they can to help you find the best policy suited to you and your unique needs.