Want this question answered?
A certificate of marriage is not required to collect on life insurance. Life insurance proceeds will be paid only to the named beneficiary/beneficiaries on the policy. If all beneficiaries are deceased, then the benefit will be paid to the deceased insured's estate.
While all of the relatives should comfort the mourners and participate as is appropriate, the actual laws of mourning apply only to the following: the siblings of the deceased, the children of the deceased, the spouse, and the parents of the deceased. Excluded are nieces and nephews, in-laws, grandchildren, aunts and uncles, etc.
A family member or the agent needs to inform the insurance company if a beneficiary deceased; They will mail a claim package to the insured family, and a copy of the death certificate will be required.
If you own the policy, then just call your insurance agent and have the deceased individual removed from your policy.If the deceased owned the policy then you will need the death certificate as well as proof that you are the legal representative (Executor) of the estate before you can make changes.Alternatively, you can just stop paying the premiums and it will cancel by default for non-payment.Good Luck
In most cases it will default to the estate.
I just found a policy for my deceased father. the certificate number is 0070-w-s-245. Effective date is January 1, 1948. What do I do to find out more on this policy?
It depends on the legislation of the country. Normally the spouse and children take precedence. An under age child of the deceased would take precedence over the mother of the deceased.
The children or heirs of the deceased will receive the benefits in a situation including a second to die insurance policy. It is also goes by the terms "Dual Life Insurance" and "Survivor-ship Insurance".
Yes, you can decline the benefit. Speak to the insurance company about how.
insurance proceeds are distributed to named beneficiaries In addition an insurance policy of a deceased that does not have a named beneficiary will be included in the probate procedure and the state's probate law of succession will apply.
Life Insurance and EstatesNO, not if the named beneficiary is not deceased. The proceeds of a life insurance policy belong to the named beneficiary not to the deceased. It should not under any circumstances be included in the estate of a deceased or the probate process. If no beneficiary is named or if all beneficiaries are deceased then their is no alternative. When their is no named beneficiary then the value of the life insurance policy reverts to the insured and must then be included as part of the deceased estate
The estate is responsible for the medical debts. The exception would be if the children were the insurance holder or co-signed the medical agreement.