I have been seperated for a year.My husband has cashed a Prudential Endowment policy,can he do this. Prudential did not know we are apart
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frenchy4
1 year ago
Expert Financial Adviser Answer
James Brooke
answered 1 year ago
It does not matter whether Prudential think you are still together or not. What matters is the ownership of the policy. This is determined by who the policy holder is or who the policy holders are. Who the lives assured on the policy are makes no difference.
So, if your ex husband is the only policy holder and it is not a policy in joint names, as opposed to joint lives assured, then he can cash it in as it is deemed to be his policy.
However, depending on what any separation or divorce settlement says, the value of the policy could be taken into account in determining financial settlements between you.
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So, if your ex husband is the only policy holder and it is not a policy in joint names, as opposed to joint lives assured, then he can cash it in as it is deemed to be his policy.
However, depending on what any separation or divorce settlement says, the value of the policy could be taken into account in determining financial settlements between you.