Life insurance advice please...(UK Law)?

When I was married my husband took out a life insurance policy on me. We are now divorced. I rang the insurance company today and asked what my options were and apparently I can do ntohing..not even cancel it..as he has set it up in a trust. Is there any way I can challenge this?Life insurance advice please...(UK Law)?
As your husband is the proposer,he is the owner of the policy.


He also did not have to put it in trust as he is the policyholder.Life insurance advice please...(UK Law)?
Whole life, universal life, and variable life steals your cash value when you die. And if you want to use it, you have to borrow it and owe 5-8% interest on it!





Buy Term And invest the difference into Traditional/Roth IRA, both grow tax-deferred and have higher rate of return than cash value!

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In UK you can have life policy on any life as long you have insurable interest (husband and wife) at the onset of the contract but insurable interest does not have to exist at the time of claim.
NO
Not if he owns the policy, even though it is on your life. If you have no children, there is no reason for him to keep the policy. If you have children then he will need financial backup should you die and therefore still needs the policy after break up.





Either way, it is up to him by the sounds of it.





You must have agreed to this life cover when you signed the application form.
No, if the life insurance was taken out in his name, even if you are a named party who would benefit from this policy, it does not give you power to cash in or add to this policy. It also means your husband could in effect take you off the policy thereby meaning you would not benefit in the event of his (or others in the event of your) death. I would contact your husband and hopefully reach an amicable solution. Alternatively seek advice from a solicitor who specialises in divorce settlements. Good luck!
If he is the policy holder, He is solely in control.





Ask your ex-husband if he can civilly discuss the options. He may choose a lawyer with him, but thats OK.





Tell him you want him to either Transfer the policy over to you, or cancel it and give you proof of cancellation.





If he refuses, make it clear that you are not intending to pay any premiums towards it, nor are in any way liable.





As the policyholder, he is solely liable to pay the premiums for it. If it is in your name, it is not ussually possible to use it on any other person.





In other words, He is still paying premiums on it, but cannot claim on it unless something happens to you AND YOU ONLY. His current girlfriend is not protected.





Does it not sound better to think of it that way rather than considering you cannot do anything with it.

make up