Questions about life insurance in case of divorce?

Questioner

I have a question if someone has a life insurance policy with his partner, now they are divorced and the ex wants to buy out the insurance and wants to change my name to the name of his new girlfriend. Is this allowed or do I have to sign for this?

Lawyer

Dear, When cashing in the life insurance policy, the policy will be terminated prematurely and the value at that time will be paid out/divided to the ex-partners in the event of a divorce. If you were married in community of property, you must both sign for redemption, unless a possible divorce agreement would determine otherwise with regard to the undivided ownership of the estate. If your ex-partner is the policyholder, he can proceed to change the name. I advise you to also consult the (policy) conditions regarding redemption. If you are unable to resolve the issue or require further legal assistance, please contact me directly.