Insurance – Life Insurance Benefits – Competing Claims

By Deborah Elkins
Published: August 18, 2008

A couple’s divorce settlement agreement that said that wife had an insurable interest in husband’s life and husband could keep his existing life insurance policy and named wife as a beneficiary, controls distribution of the $500,000 in life insurance proceeds, and the ex-wife is entitled to 80 percent of the proceeds, under decedent’s beneficiary designation, ...

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