Question
What is the name of your state? New Jersey
My fiance is trying to tell me that his new job says that in order for him to name our daughters as his beneficaries of his life insurance policy they must have his last name. I told him that was not true the first time he tried to convince me of that when he said his attorney told him that about an automoble accident award he is expecting. He said that the girls had to have his last name in order to be named on his life insurance policy in case something happens to him before he gets the money. I told him that if something did happen to him before then, nobody would get any money because his death would end the battle.Who would the other people fight with if he is dead. I also told him that I could buy a policy and leave it to total stangers if I wanted to, which I wouldn't, but leaglly I could if I wanted to, I could. Earlier today he told me that he was putting me as his beneficiary, and we aren't even married yet, and I have a different last name as him still. I don't think he remembers that he told me that part. I just want to know, have the laws changed to have that strict of a stiplation? I believe I am correct, as usual, I just want it in black and white for him to see it. I think he may be getting this confused with the restictions placed on the claiming of dependants on medical plans. I just want to get things straight. Thank you in advance for all replies.What is the name of your state? New JerseyWhat is the name of your state?
Answer
What is the name of your state? New Jersey
My fiance is trying to tell me that his new job says that in order for him to name our daughters as his beneficaries of his life insurance policy they must have his last name. I told him that was not true the first time he tried to convince me of that when he said his attorney told him that about an automoble accident award he is expecting. He said that the girls had to have his last name in order to be named on his life insurance policy in case something happens to him before he gets the money. I told him that if something did happen to him before then, nobody would get any money because his death would end the battle.Who would the other people fight with if he is dead. I also told him that I could buy a policy and leave it to total stangers if I wanted to, which I wouldn't, but leaglly I could if I wanted to, I could. Earlier today he told me that he was putting me as his beneficiary, and we aren't even married yet, and I have a different last name as him still. I don't think he remembers that he told me that part. I just want to know, have the laws changed to have that strict of a stiplation? I believe I am correct, as usual, I just want it in black and white for him to see it. I think he may be getting this confused with the restictions placed on the claiming of dependants on medical plans. I just want to get things straight. Thank you in advance for all replies.What is the name of your state? New JerseyWhat is the name of your state?
The ins. co. I worked for would accept children as bene with a different last name than insured if they were listed as children or step-children. (and, of course, we would accept adopted children but they would normally have the same last name) I don't know why a co. would require the same last name. Re your comment that you could buy a policy & leave it to a total stranger is not quite correct. The bene has to have an insurable interest in the life of the insured at the time the policy is issued. (They would have to suffer a loss at insured's death.) Immediate family members due to the close relationship automatically have an insurable interest in each other's lives. Also, we would accept fiance' or fiancee as bene. It might be that you are not married yet & the children at this time are not related in any way to your fiance'. It seems from your post the kids are yours from a prior relationship since they don't have your fiance's last name currently.