Company Life Insurance and Ex-Spouse

[poordad]

Hello there, I'm new to this and this is my first post.
Apparently as per law, I have been told by my lawyer that my company life insurance policy would have to be put into my ex's name because she is entitled to it even though I am now remarried and my new wife is the beneficiary. Is this in fact the law of Ontario? I am just in the process of settling with my ex and daughter who is also suing me. Any advice would be greatly appreciated.

[Suchislife]

You should take a look at this: http://www.ottawadivorce.com/li.htm

[Oncebitten1]

If your lawyer is telling you this then I would suggest it must be true. Check out this link: Life Insurance ....the reason appears to be that the policy is assurance that she will get her alimony or in the case that she doesn't she has your insurance policy after your death.

[dumbfounded666]

I had my company life insurance in my daughters name, my ex wanted it and went after it in court, I was informed by the judge it is usually awarded that the payor is to keep 100,000 life policy on themselves for their ex to cover some support if anything was ever to happen to you, I guess the government doesnt want to get stuck with those expenses either