How will a life insurance beneficiary designation naming a spouse be changed by divorce?

How will a life insurance beneficiary designation naming a spouse be changed by divorce?

How will a Life insurance beneficiary designation naming a spouse be changed by divorce? Explanation: A beneficiary designation naming a former spouse becomes void at the time the policyholder’s marriage is judicially dissolved.

Can I remove my spouse from my life insurance?

As long as you have not designated any irrevocable beneficiaries or assigned an interest in your life insurance policy to someone else, you are allowed to change your beneficiary, says Abramson.

Do you have to make your spouse your beneficiary on life insurance?

In simple terms, a life insurance beneficiary is a person who is entitled to receive the death benefit. There is no hard and fast rule that only your spouse or children can be named as your life insurance beneficiaries.

How long do you have to be married to collect life insurance?

En español | To receive a spouse benefit, you generally must have been married at least one year.