If you are appointed as the beneficiary on an insurance policy does that also make you the power of attorney?

Question

If the person is in a state of mind where he or she can't talk for themselves?

Answer 1

No-generally the power of attorney designation is made on a separate form. It can give the designee the power to handle many aspects of the persons affairs (business and personal) or just one (medical decisions).

A beneficiary is simply the person who is entitled to whatever benefit the policy has upon the insured's death.

Answer 2

No way. They are two entirely different things. The person needs a healthcare power of attorney which is not necessarily the same as a general power of attorney.

Answer 3

no

Answer 4

No-these are two separate things-they can be the same person, but they are totally different roles. My dad has me on his insurance policy, but his brother is his power of attorney. The power of attorney makes the decisions for the person if they can no longer do it themselves. This has to be specifically drawn up by a lawyer.

Answer 5

No.  It just means thaat the money goes to you.  To get power of attorney you have to actually go to an attorney and fill out a lot of paper work.  I know it involves a lot and you have to prove that the person is not able to make decisions for themselves.