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transferring educational plan

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1 transferring educational plan on Wed May 30, 2012 12:08 am

danjelo


Arresto Menor
Hi, I am a plan holder of an educational plan and this plan is already due.

I am permanently living out of the country and I would like to transfer the educational plan to my sister in the Philippines. I purchased the plan when I was still single, but now I am married, so my name was already changed.

I would ask what right document I need to present. My sister always tells me that the insurance needs SPA.

I have worked at Legal for quite long and that I know SPA is just authorizing someone to act on my behalf.

I am thinking an Affidavit proving that I am the person whose maiden name written on the plan is the same person who is using my married name now. then, just mentioning that I am voluntarily transferring the educational plan to my sister. Aside from that the insurance will send me a transfer form for me to sign it.

I am right that I need Affidavit not SPA? what if the insurance insist that they need SPA despite that I told them that I am willing to transfer it to my sister, so I will not have problem on check. if transferred to my sister, the check will be on her name already and easy for her to cash it.

Please help me on this matter.

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2 Re: transferring educational plan on Sun Jun 03, 2012 12:09 pm

attyLLL


moderator
inquire with the educ plan company what their requirements are


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