Life Insurance Lawyer Serving Wisconsin & Advocating for You

Maybe! First, life insurance policies typically have a grace period for unpaid premiums, so you may still be able to receive death benefits even if the policyholder missed a payment. Second, in cases where the lapse was not the fault of the policyholder, we have been able to get our beneficiary clients paid. 

If you are a beneficiary of a lapsed life insurance policy, the WI life insurance lawyers at Boonswang Law can investigate and help you understand what your rights are.

Of course! There is no law, regulation, or rule that prevents you from sharing the death benefit with whomever you choose.

It is surprisingly common for policyholders to list only one of their children as a beneficiary on their life insurance policy. Although a beneficiary cannot add their siblings to the policy after the policyholder’s death, there’s nothing stopping them from sharing their benefits once the benefits pay out.

You can dispute or contest the denial. 

When you received the denial letter you should have also received documents explaining the process of appealing a claim denial in Wisconsin. But you do not have to contest the denial alone. Having an experienced life insurance lawyer handle your dispute is highly recommended so you can feel confident that everything is being done and that it is all done correctly.

Only the policyholder can legally change the beneficiary on a life insurance policy. In some instances, a person who has power of attorney over the policyholder may make changes to the policy.

If you are supposed to be an irrevocable beneficiary or you are a beneficiary under a court order and your spouse or ex-spouse changed their beneficiary designation to someone else, you should contest that designation. 

With a divorced or remarried policyholder, confusion may arise over who is entitled to be beneficiary. This is governed by state law and varies state-to-state. Our WI life insurance lawyers can explain what you’re entitled to as the policyholder’s spouse or former spouse.

First, know that policyholders can change the beneficiary designation at any time as long as they are of sound mind and not under duress when they make the change. However, if you suspect fraud, incapacity, or duress, you can contest the beneficiary designation. These cases are notoriously difficult to prove, so contact an experienced WI life insurance attorney for help.

Not under any circumstances. The policyholder generally is the only person who can make changes to the policy. If you receive paperwork showing that the beneficiary changed after the policyholder’s death, it is most likely fraudulent.

A minor cannot be the direct recipient of life insurance death benefits. If the beneficiary is still a minor when the policyholder dies, the courts will usually choose a custodian to oversee the minor beneficiary’s death benefits. However, nothing can really be done to stop the custodian from using the minor’s payout for their own purposes.

When a policyholder wants a minor to receive the death benefit, they set up a trust, designating the minor as the beneficiary of the trust, and appointing a trustee to administer the trust and act as the minor’s fiduciary. We suggest hiring an estate planning attorney to help you understand the legalities of setting up a trust.