Life Insurance and Divorce
Does divorce revoke a spouse designation as beneficiary under life insurance policy?
Answer: Yes, under 15 O.S. §178:Divorce revokes beneficiary designation, but statute inapplicable to a beneficiary designation in force before statute’s effective date (11/1/1987). Does not apply to federal servicemen’s policy, because preempted. Also, the beneficiary designation may be (is) reaffirmed by re-designating after the divorce.
Posted on Sun, December 19, 2010
by Sharon Coleman filed under