Sounds like your concerns are well founded. Is your son a minor? If so, he should not be listed as a beneficiary outright because a minor cannot receive and old the money. I'd suggest that you set up a small Custodial account with your bank for your son. Then suggest that grandma name the custodial account, or you as the custodian of that account, to receive the policy benefits on behalf of your son if he's under 18 at the time of death. If he's over 18, then directly to him. Offer them whatever information you feel comfortable with.
Answered on Jun 26th, 2018 at 11:33 AM