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It will state on the life insurance policy the name of the person or persons who are to receive the death benefit. Since a life insurance contract is a legal document, the insurance company is required to carry it out exactly as stated in the policy. The money may be argued over from that point, but the will cannot dictate where the money from a life insurance policy goes.
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∙ 13y ago
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Do you have to pay taxes on benefits from a life insurance policy in CT?
The benefits from a life insurance policy are treated as part of the estate and subject to the estate tax. They are not subject to income tax.
Are life insurance death benefits part of the estate?
It depends on the policy wording but most do NOT form part of the estate. You will need to ask the insurance company.
Are life insurance benefits subject to confiscation by medicare?
Can Medicaid sieze the benefits of a life insurance policy
Is health insurance benefits earned income?
No health insurance benefits would not be a part of your earned income.
What are the benefits of universal life insurance and what are the possible drawbacks of this type of policy?
What are the benefits of universal life insurance, and what are the possible drawbacks of this type of policy
Is life insurance a scam?
Life insurance is not a scam. There are benefits and drawbacks to having life insurance, it simple depends on the person's needs.
Which life insurance will provide death benefits that can change?
whole insurance
What are the benefits for a neonatologist?
Employee benefits for neonatologists include, but are not limited to, medical practice insurance, disabilityinsurance, and life insurance.
How do you find out about cashing in life insurance bond for cash?
answers to my related benefits on my term life insurance
Will having life insurance affect survivorship benefits from Social Security?
No, having life insurance does not affect survivorship benefits from Social Security. Survivorship benefits are provided by the Social Security Administration and are separate from any private life insurance policies. The receipt of life insurance benefits does not impact the eligibility or amount of survivorship benefits from Social Security.
Is life insurance considered part of deceased persons estate when money is owed to loan companys?
If the life insurance has a named beneficiary then life insurance benefits are not subject to debtors claims. If there is no beneficiary or the "estate" of the deceased is the named beneficiary, then loan companies can come after the estate.
Which of these is an element of universal life insurance?
This life insurance policy has two different types of death benefits.
