Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Can I pay my mom’s life insurance premium as a policy beneficiary?

Posted on Thu Jul 9, 2015, on Life Insurance

From our “Ask a Question” Mailbag: Paying Life Insurance Premium as a Beneficiary

Most Recently Updated July 15, 2018. 

“My mother is incapacitated and living in an assisted living facility in Burlington County, New Jersey. She appointed my brother agent under her power of attorney. My mother has a life insurance policy on her life that names me as beneficiary. My brother refuses to make the payment, so the policy will soon lapse. Can I make the payment?”

Probate-Fees

Paying Life Insurance Premium as a Beneficiary

Paying Life Insurance Premium as a Beneficiary

You certainly can make the payment, as the insurance company does not care who sends the check. The life insurance company will only care if the check clears. If the policy is a term policy, you should consider when the policy lapses. If the term policy only has one or two years remaining and your mother is in good health despite being incapacitated, then the payments might be lost, as the policy may lapse before her death.

If the policy is some type of permanent insurance, and your mother will some day move into a facility and apply for Medicaid, the state may require that she take the cash value of the policy out to pay her bills. The cash value might be lost. There are many options available in this situation, and many potential outcomes. Our attorneys have dealt with the countless permutations of this situation.

More Planning Questions?

Life insurance is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: Paying Life Insurance Premium as a Beneficiary

I hope that this article was helpful in explaining life insurance. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

 

Tags:

Burlington County, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Life Insurance, New Jersey

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Brandon. L

Peter was excellent. He explained everything very clearly and is super friendly. My wife and I originally tried using a lawyer through group legal coverage, but unfortunately the old adage - "you get what you pay for" - applied to the other lawyer, and we decided to go with a real professional.

Klenk Law Logo
Stars

Dylan. S

Peter provided outstanding advice and preparation of a will and trusts.

Klenk Law Logo
Stars

Rachel Roney

Peter has done a great job with the estate planning for my father. He is very thorough and patient as we, the family need to make decisions.

Klenk Law Logo
Stars

Gene Link

Knowledgeable lawyers, helpful attitude, fair fees.

Klenk Law Logo
Stars

Anne W.

I saw four lawyers and was told by all of them; I should just forget contesting my mother's will. I knew what happened, but it is very hard to prove undue influence. I contacted the Law Offices of Peter L. Klenk & Associates. Attorney Amanda DiChello took my case. They were very honest and upfront about what would be involved trying to prove what I knew was true. Attorney DiChello may be young but she is extremely knowledgeable and skilled. She listened and understood what I conveyed to her. She knew exactly what information to use and crafted an outstanding interrogatory and many powerful depositions. Attorney DiChello understood the various emotional feelings this case created for my family and me; she was always there for us with a kind and encouraging word. We went to trial. The amount of work which she and her Paralegal did for the trial was incredible. They both knew my case inside and out! Attorney DiChello's powerful interrogative and thinking skills produced a positive outcome. Attorney DiChello did what other seasoned lawyers said was impossible!

Let us put our expertise to work for you.

Free consultation within 24 hours.