Chip Chick
When you get married, you and your spouse must be on the same page regarding certain financial matters.
A woman is arguing with her husband, who refuses to make her his beneficiary on his life insurance policy.
She and her husband are in their 40s and fell in love after being friends for five years. They were previously wed to other people, and she has two adult daughters with her ex-husband, with whom she has a good relationship.
For a significant amount of time, she’s put a lot of consideration into her life insurance policies. She has one from work and took out another on her own. This is because she lost her parents when she was in her 30s and remembers feeling totally unprepared and overwhelmed with all the expenses she faced.
“I didn’t want my daughters to have to deal with that, so if I were to get hit by a bus tomorrow, my daughters would split $250,000 plus another $100,000 through my work,” she said.
“When I got married again, I took out a separate $100,000 policy for my husband. As my now legal next of kin, he would be tasked with tying up my loose ends.”
Her plan assured her husband, who makes less than her, wouldn’t go into debt while handling her funeral expenses and finances. He also has a $100,000 policy through his job, but instead of her becoming the inheritor, he gave that role to his mom.
To her surprise, he revealed that he had no intention of changing that.
She found that to be quite ironic, considering her husband hasn’t seen his mom in 10 years, and she’s already very wealthy, married to a plastic surgeon, and living in a $3 million home.
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