Legal Question in Wills and Trusts in New Jersey
life insurance policies
If the beneficiary on a life insurance policy is changed, what is the time limit before it takes effect
Asked on 6/27/01, 10:27 am
2 Answers from Attorneys
Jonathan Chester
The Law Office of Jonathan S. Chester, Esq., LLC
Re: life insurance policies
This will likely depend on the terms of the policy itself, which should be reviewed carefully. Often, a change of beneficiary is not recognized until the insurance company has actually recieved the change form at their home office.
Jon Chester
908-273-1212
Answered on 6/29/01, 2:07 pm
Steven Tarta
Steven Wayne Tarta, Attorney At Law
Re: life insurance policies
Subject to the terms of the policy, the change should take effect immediately, ie when the company receives the change of bene. document
Answered on 6/29/01, 5:45 pm
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