What about branch 23 insurance in the event of divorce?

Have you taken out branch 23 investment insurance and are about to divorce? Remember to check the beneficiary in the contract and modify it after the divorce if necessary.

Beneficiary

All life insurance, including branch 23, includes a beneficiary. This is the person who, in the event of the insured person's death before the final maturity of the contract, receives the insurance capital. For married couples, it is often the spouse.

Remember    

It is logical that in the event of divorce, the partner who has taken out a branch 23 insurance policy does not want his or her former spouse to remain a beneficiary. It is therefore essential to modify this in the contract. Otherwise, it could result in a few surprises later on.

Example

Imagine that your name is André Lelubre and you are married to Louise Desmet. You take out a branch 23 insurance policy with Louise as beneficiary in the event of death. But after a few years, you get divorced. A few years later, you get married to Fabienne Delune, but in the meantime you forgot to change the beneficiary from Louise to Fabienne. If you die before the contract expires, Louise will receive the capital, and not Fabienne.

However, there will not really be any problem if you designate your spouse as beneficiary in generic terms, for example "my wife". If you remarry, your new wife will automatically become the beneficiary. If you do not remarry, then there will be no more wives (you will be divorced) and the secondary beneficiaries will receive the capital in the event of death.

More information on branch 23 insurance.