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If no beneficiary is named on the life insurance policy is the surviving spouse the default beneficiary?
Wiki User
∙ 14y ago
Life insurance is a great thing: you can ensure that a loved one will continue to have the life style that they are accoustmed to should you pass on. When the policy was applied for, a beneficiary should have been named. The beneficiary can be changed at anytime (just contact the company and ask for a beneficiary change form). But never the less the proceeds WOULD go to a surviving spouse if there is not a designated bene at the time... Just as the rest of your "estate" would (unless you had a trust). A life insurance policy is its own trust/ legal document and would go to the spouse based on your "union" between man and woman. I suggest clarifing your intentions for the proceeds by naming a bene. Good luck What if the deceased also had a minor child who was not the child of the surviving spouse?
Wiki User
∙ 14y ago
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Is the surviving spouse the legal beneficiary of a life insurance policy if no one is named beneficiary?
The policy would default to the Estate. which in most cases the spouse would be the executor of the estate. however, it would have to go through probate court first, so you always want to have a primary beneficiary a life insurance policy.
Is surviving spouse the legal beneficiary of a life insurance policy if a different beneficiary is named?
No, the spouse is not. The beneficiary is named. There are laws that require the spouse to sign an acknowledgement that there is life insurance that she is not the beneficiary of.
What happens to the proceeds of a life insurance policy if the beneficiary is unclear?
When no beneficiary has been designated the proceeds of a life Insurance policy are assigned to the probate estate of the deceased insured. It would then be apportioned by the probate court to any surviving heirs.
What does it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
If beneficary dies before the insured does surviving spouse have rights?
If the beneficiary of a life insurance policy predeceases the insured, the insured should make arrangements to name a new beneficiary. If they do not, the policy proceeds will become part of their estate if they die without naming a new beneficiary. You should consult with the insurance company.
Can you have a secondary beneficiary on your life insurance?
Yes, you can have a secondary beneficiary on your life insurance policy. If the primary beneficiary is no longer living when you pass away, the secondary beneficiary would receive the proceeds from your life insurance policy.
Who is the beneficiary for your life insurance?
The beneficiary of a life insurance policy is the person or entity designated by you when you apply for the policy and when it is issued by the insurer.
If you purchase life insurance policy on your adult child naming myself as beneficiary can adult child change beneficiary?
The purchaser of an insurance policy names the beneficiary.
Can an insured person also be the beneficiary on an insurance policy?
Yes, there is no bar in the insured person being beneficiary on another insurance policy.
How do you find out who the beneficiary is on a life insurance policy?
You can typically find out who the beneficiary is on a life insurance policy by checking the policy documents or contacting the insurance company directly. The beneficiary information is usually listed on the policy itself, in the beneficiary designation form, or in the insurer's records.
Who can legally change the beneficiary on a life insurance policy?
The Insured can change the beneficiary on a life insurance contract.
Can a Will override the beneficiary on a life insurance policy?
No.
