You can only collect on the life insurance if you were awarded this at time of divorce. I was awarded the ability to take out a life insurance policy on my ex. as I receive a military retirement which only exists if he is alive. After his death, it would stop, therefore I have the life insurance policy.
In order to ensure that a wife collects her deceased husband's insurance policy, it is beneficial to transfer the beneficiary of the policy while the husband is still alive. If the beneficiary of the policy is also deceased, it would be wise to seek legal help.
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.
Life insurance, I assume? If you're in the US, and if the premiums have been kept up-to-date, yes, he can collect. He's not required to have her permission to take out the policy nor is he required to be married to her in order to collect on it.
There's a site for that; please see link for search "deceased insurance policy search."
I think you mean "creditors," those who are owed money. Debtors are the ones who owe the money. In Texas, the proceeds from life insurance policies are exempt if a dependent is named as the beneficiary. Otherwise, the funds are not exempt. Of course, the creditor must know about the policy to collect from it.
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.
There are many different kinds of insurance policies. Read the policy and find out what the terms of the policy are.
Yes, The Heirs can buy the policy or the Estate executor can buy a home insurance policy.
The policy proceeds will become part of the decedent's estate.
Probably not unless the insurance company decides to allow it or it was a provision in the life insurance policy. Normally, people are not able to collect on their life insurance policy until the insured dies.
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
Your beneficiary can collect benefits from your insurance policy if you commit suicide if, 1. Your policy provisions for payout in the event of suicide. 2. Your waiting period has been satisfied if stipulated by your insurance carrier and policy. Read your policy carefully and contact your policy carrier for assistance and clarity as it relates to your policy.