If an insured person tells her current husband that she is going to name him as beneficiary of her life insurance in place of her former husband and dies a year later without having taken any further steps with respect to the change of the policy beneficiary, the insurance company must pay the proceeds of the policy to:

Question

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The insurance company must pay the proceeds to the former husband because beneficiary designations must be made in writing with the insurance company. Verbal promises or intentions do not change the beneficiary designation on a life insurance policy.

If an Insured Person Tells Her Current Husband That She