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Beneficiaries on insurance, retirement...etc.

bebe11bebe11 member
in Blended Families

My husband?s best friend/work partner passed away last week at the age of 38 years old. My husband is helping the family with dealing with work issues, getting personal belonging, and being the liaison between their captain and the family. During the process he found out that after his friend divorced his wife, apparently he missed a couple of places where he should of changed his beneficiary a medical insurance policy and his retirement.

They didn't have any children together, but she is justifying keeping the money, rather than giving it to his family to help with all the expenses. Since this was an off duty death (he was a police officer), the department doesn't pay for the funeral, so the family is responsible for all the expenses.  I told my H he needs to double check all of his stuff after hearing this.

I just wanted to put this out there as a reminder to make sure all your H's have updated their policies...etc.

 

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Re: Beneficiaries on insurance, retirement...etc.

  • PhantomgirlPhantomgirl member
    Hmmm - good point bebe.  thanks for sharing that.
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  • HisChamaoleGirlHisChamaoleGirl member
    Thank you for posting this. I did check DH's paperwork and everything is to be left to me with the exception of the funeral check. That is to be paid to his son. Thank you again for posting this bc I cant see how a nine year old would facilitate this.

    BFP #1 11/07/2012 EDD 07/09/2013 M/C 11/22/2012

    BFP #2 02/05/2013 EDD 09/19/2013 Arrived via c-section 09/27/2013

    Lilypie Angel and Memorial tickers

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  • IlumineIlumine member

    image*HiS ChAmAoLe GiRL*:
    Thank you for posting this. I did check DH's paperwork and everything is to be left to me with the exception of the funeral check. That is to be paid to his son. Thank you again for posting this bc I cant see how a nine year old would facilitate this.

    When it comes time for retirement (for the both of you), look into the SBP program.  It is not worth it for the spouse.  You pay too much in premiums for what the bene would get (small % of the sponsor's retirement pay AND there is concurrent reciept issue with SSI- so not worth it). 

    HOWEVER!!!! SBP for the Child rocks. Its a much smaller premium, and the child(ren) will get the same payout until they turn 18 or 22 enrolled in college. Best part, the money will go to the parent only until the child(ren) turns 18, then directly to the child. BOOYA BM.

    We went that route for SS and DD.  If DH were to die tomorrow, we would get $2,300 a month, split in two until SS turns 22.  Then the full amount to me until Monkey turns 18. 

    file:///Users/Ilumine/Desktop/Family%20Portrait%20for%20gift.jpg
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