Is The Beneficiary Of A Life Insurance Contradict With A Power Of Attorney, Supposedly It’s The Same Person?
Posted May 25, 2009 – 10:25 am in: structured settlements FAQI was named a main beneficiary on my mom life insurance many years ago. She recently in a comma due to cancer, and I was appointed as her power of attorney. According to a clause in the Power of Attorney: “my Agent cannot designate himself or herself a beneficiary of any such insurance contracts”, is this means that I’m no longer a beneficiary on her life insurance? And do I have the power to add or delete any existed beneficiary including myself?
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2 Comments
No, it doesn ‘t change her designation of you as beneficiary, it just says you couldn’t change a policy where you weren’t already beneficiary to make you the beneficiary.
It would be a rare circumstance where you would be adding or deleting anyone else as beneficiary of a policy of your mom’s.
Judy gave you a clear and concise response. Nothing more needs to be added.