Listing of beneficiary for insurance policy
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Once you listed a beneficiary for your insurance policy, in future when you want to change or add in new name for beneficiary, you need to get the original beneficiary that you stated to sign and agree to change the name of the beneficiary?
What if the beneficiary does not want to sign?
Than you can't change who you want to pass your insurance money to?
For example your mother listed you as the beneficiary of her insurance policy and you will get 100% of the money.
1 day she decide to remove your name and write her sister name to let her sister be the beneficiary to get all her insurance money.
She will need you to sign and agree to remove your name as the beneficiary?
If you don't want to sign is there anything she can do to remove your name? -
no need.
she in control. no need u to approve or object.
she wanna put my name oso can.
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Don't think so.
My friend mother when she divorce, the husband had to sign to agree to remove his name as the beneficiary for her insurance policy.
I think this is the new rule for insurance policies
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Yes new rules since 2009.
Got difference between revocable beneficiaries (called Nomination) and irrevocable beneficiaries (called Trustee).
I am not so well versed in the details so hope you can please read this yourself:
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when she bot the policy, the rship is husband-and-wife
after divorce, the rship changed, so need to sign either to accept being the beneficiary (if the ex-wife still want the money to go to him) or sign to terminate the policy as the rship is invalid -
I think it depends also on who your insurance company is.
Might be different between say ntuc vs the other private insurers.
Asking your insurance agent is always a good idea.
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I think even if the relationship never change, for example they never divorce, the wife will still need the husband to sign his consent if she wants to remove his name from the beneficiary list
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Originally posted by FireIce:
no need.
she in control. no need u to approve or object.
she wanna put my name oso can.
i think put fifi's name
please furnish IC number
and ban TS