Will my Ex-Spouse Remain a Beneficiary under my Life Insurance Policy in Florida?

Upon finalizing a divorce in Florida, the previous designation of your spouse as a beneficiary to your life insurance policy becomes void.  Fla. Stat. § 732.703(2).  The distribution of your life insurance proceeds will be administered as though your ex-spouse died immediately prior to your divorce. Id.  In this scenario, life insurance proceeds will go to any other beneficiaries listed on the policy or to your estate.

Various exceptions to the foregoing rule are identified under Fla. Stat. § 732.703(4).

Further, there may be steps a beneficiary needs to take to inform the life insurance company of the divorce to ensure the proceeds are paid to the proper beneficiary.

If you are a beneficiary who is having difficulty obtaining life insurance proceeds of at least $100,000, contact Mark C. Santi immediately at msanti@santicerny.com.

Mark C. Santi, Esq. graduated from the University of Miami–School of Law in 2007 where he was a member of (and President for) the prestigious Bar and Gavel Society.  Mark also earned the 1L, 2L, and 3L Volunteer of the Year awards.  For the next several years Mark practiced in South Florida and frequently appeared in Miami, Ft. Lauderdale, and Palm Beach courts.  Thereafter, Mark practiced in New York City and then in Minneapolis, Minnesota where he presently resides with his family.  For over 15 years Mark has represented Florida clients and often travels to the state.  Mark enjoys spending holidays with family at their home in Key Largo, Florida.