An annuity policy has 1 owner named on the policy (the husband - he was named as the owner and the annuitant on the app) ) but the husband and the wife both sign the application as co-owners (there is only one place on the app for signatures - the wife was signing as co-owner - not as a consenting spouse).
The policy says that “the beneficiary of the co-owner spouses must be the surviving spouse”, and that “co-owners are deemed to be joint tenants with right of survivorship unless they indicate otherwise”.
The insurance company says that the name on the policy controls and wants to pay proceeds to the beneficiaries - the children of the husband and wife.
What rights does the wife have?
