A man worked 32 years at the same company, got divorced, and faxed the benefits center to remove his ex-wife as life-insurance beneficiary. The court sided with the employer: the policy required a phone call or online portal, not a fax. His ex-wife got the $300,000.
Chapters
The ex-wife wins again. A recent case out of a federal appeals court exemplified the maxim that love may fade, but beneficiary designations do not. A man got divorced and sent a fax to the benefits center of his employer telling them he wanted to remove his ex-wife as his beneficiary. But the company said they had clear requirements that to change beneficiary, person had to call the benefits center or change it themselves online. The Seventh Circuit U.S. Court of Appeals in Chicago agreed with that. So instead of $300,000 going to the man's estate, went to his ex-wife. And ex-wives, I'm not picking on y'all. I just haven't found any cases where the money went to the ex-husband. And that's probably because men are stupid and a woman would have made the call. So go right now and check your beneficiary designations. And if you got to change one, do it the way the company says to do it. And if you can't get that right, I'll walk you through how to do it in my free workshop in a couple of weeks. Comment the word workshop and I'll send you the info to register.