Life insurance question

[Dan Murphy]

.....The insurance company can ask for the SSN however you should not have to provide it unless your brother dies and you are receiving the money.....

This is correct.

(not to be taken as financial, legal or insurance advice)

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[KramBerries]

There is no legal requirement that you must proivde a SSN to the insurance company. They probably want one because it uniquely identifies the beneficiary. That's much easier for them than having to worry about John Smith Sr. or John Smith Jr. suing them because paid out to the wrong John Smith.

 

[golfgal]

There is no legal requirement that you must proivde a SSN to the insurance company. They probably want one because it uniquely identifies the beneficiary. That's much easier for them than having to worry about John Smith Sr. or John Smith Jr. suing them because paid out to the wrong John Smith.

Actually, you are wrong. If they pay out to a beneficiary they DO have to have a social security number-first to make sure it is the right person and second to file with the government the proper tax forms if applicable. There isn't a single insurance company that is going to distribute a death benefit without a social security number.

 

[Bluestars]

On the life insurance beneficiary forms that our company uses, it does ask for the social security numbers of the beneficiaries.