NLIC.org

Geraldine Said:

Who is in titled to insurance monies?

We Answered:

Assuming we're talking about life insurance here . . .

When you purchase a policy on someone, like your spouse, they have to sign permission for you to buy it on them. That permission, is irrevocable. Whoever owns the policy - you - gets to pay the premium, and pick the person who gets the money when the insured person dies.

If you own the policy on spouse, get divorced, spouse remarries - you still own the policy, you still pick the beneficiary. New spouse isn't entitled to anything.

Chester Said:

No auto insurance for 4 years, now will I have to pay high premiums?

We Answered:

First of all, are you listed on your grandmother's policy as a driver for her car? If so, you should be able to get a policy in your name from the same company that she uses. The fact that you did not have a policy in your name would not be a factor, because you were insured under her policy.

For example, I am insured under a policy that is issued to my wife. I am listed as a driver. We did this because of the requirements of the company we are insured with, she was previously covered by them (years ago) on a policy owned by her parents! If I was to need a policy in my name for whatever reason, I could get it with no problem, because I have the previous coverage.

You may be able to be added to your grandmothers policy, and add the your car also. Check with her agent to see what can be done!

Good luck

Lisa Said:

real estate/legal .after transfer of title and or forclosure .which date applies to vandalism insurance paid ?

We Answered:

Once title transfers you're not entitled to any money from the previous owners' insurance claims. This is why foreclosed homes are sold in "as-is" condition because often the previous owners destroy everything before they leave.

If you didn't pay the insurance premiums, why would they pay you?