What if you weren't listed as a beneficiary on his life insurance?

All Woman

 

MANY people are motivated to purchase insurance because they notice that it is a crucial part of a sound financial plan — they can continue to provide for their families even after they die. An important part of purchasing life insurance is designating the beneficiary(ies) to receive your life insurance payout in the event of your death.

In most instances, children and spouses are listed among the beneficiaries of these policies. But what if when you checked your partner's insurance policy you learnt that you were not listed as a beneficiary? All Woman readers react to how knowledge of this would make them feel.

Shanon, 36, teacher:

To be honest, I think I would be offended. But I would be grateful that I found out while he is alive so that I can also set my affairs in order. It would say to me that he does not care about how I manage after his passing and that he does not want me to be in charge of his funeral arrangements or to manage any financial matters that he leaves behind. For me, it would be grounds to re-evaluate the relationship, and truth be told, I wouldn't want to continue with him if it's a case where it wasn't just his children that he listed to benefit.

Jason, 26, teacher:

I wouldn't just be offended, I would be hurt. Once the policy was taken out when we got serious and started to make financial decisions and so on together, it would be a big red flag. As a matter of fact, it would hurt me more than if she cheated, worse if we have a family or are thinking about starting one. Neglecting to add me as a beneficiary says that you don't trust or love me enough and I am only important to you while you are alive and can somehow benefit from our relationship.

Caren, 33, nurse:

My ex-husband removed me from his policy after his mother complained that she was the one who sacrificed her life for him and she should benefit from his money if he dies because I wouldn't share valuables and other assets accrued during the marriage because I didn't like her. I overheard the argument and later saw a change of beneficiary form in his possession the next week. I soon learned that he made the change and for me, that was the last straw. I wasn't going to allow this woman to continue fixing my life and since my husband was so weak to his mom and didn't understand how to leave and cleave, I decided to leave so he wouldn't have to make any more difficult decisions.

Leroy, 42, mechanic:

I have been in a relationship for eleven years, and I know for sure my woman bought her policy when we were about six years into the relationship, and I take good care of her and our children. I have never asked who is listed as the beneficiary of her policies, but, of course, if I found out that it wasn't the kids and I, it would cut me up a way because they are the beneficiaries on mine. Mother or father can pass too, but the children and I should be there — we are her family.

Vincent, 39, IT technician:

Life insurance is a good way of ensuring that the future generation does not start from scratch. It also provides for the immediate needs of my family — because I am not rich, they will need the money to survive if I should die. It's pretty much the same thing if my fiancée should die, we would need financial support, and so if I were to find out I am not on her policy I would question what we are doing with our lives. The natural thing would be to take care of your family, and even if the policy was taken out before we got serious, then by this time in our relationship I would expect her to make the necessary changes.

Latoya, 32, food chemist:

I would be hurt, because he is on mine. If we are in a committed relationship for many years, he is basically my husband even in the absence of a marriage licence. So, if I should die, I would want you to be taken care of, especially if we have kids. Leaving me off would be him telling me that he does not care as much, or wishes to see to my care if he should die, and that speaks volumes.

Monique, 29, guidance counsellor:

Once we have been together for at least five years I think it should be automatic. If we have children it shouldn't even be a thought, and if I found out that I wasn't listed, I am going to the left. These things tell a lot about whether or not someone values you in a relationship.

Shelon, 38, coach:

Honestly, would be surprised, yes, but not offended because if she is still alive then it can be adjusted. If it is a case where the person passes and the benefits are being disbursed without me being listed, then I would again be surprised and disappointed, trying to figure out why it is so.

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