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Got a question I'm pretty sure I already know the answer to, but I'll ask anyways. My mother had a life insurance policy on me for the last 35 years. She passed away and nobody thought to change the payor/owner before that happened. Changing the payor/owner seems to require a written letter and a signature. I'm seeing two different answers when trying to google this. One says the policy is dead and the other says "If the owner and the insured are two different people and the owner dies first, the policy ownership has to pass to a successor owner until the death of the insured results in the proceeds being paid to a beneficiary."
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Apr 22, 2024 20:51
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| # ¿ May 4, 2024 09:18 |
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