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Does one sibling have to split life insurance policy with remaining siblings?
Wiki User
∙ 13y ago
Ordinarily, no.
The insurance policy designates the identity of the beneficiaries (the recipients of proceeds). The owner of the policy (usually the person insured) may change the beneficiary(ies) at any time prior to his/her death upon notification in writing to the insurance company. The person(s) designated as beneficiary at the time of death is/are the rightful recipients of proceeds, and absent a separate, lawful contract with another sibling, there need be no sharing.
That said, if there is no beneficiary named on the policy, or if the named beneficiary is "the estate of" the deceased, the proceeds generally will be paid by the insurer to the estate. In that event, they pass, with any other property, according to the Last Will and Testament of the deceased. If the deceased left no Will, the proceeds and other property will pass to heirs under the laws of descent and distribution of the State in which the deceased was domiciled at the time of his/her death. To that extent, there is a "sharing" of the proceeds.
Wiki User
∙ 13y ago
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Can a sibling living in the same state as another sibling carry that sibling under their auto insurance policy?
You can carry anyone on your policy if the vehicle is in your name.
What do you do to find out if a sibling has taken out a life insurance policy on her father but the father had no will?
ask the sibling.
Can a sibling living in the same state as another sibling carry that sibling under their auto insurance policy if the car is in your sisters name?
Sure as an additional insured or driver under the policy. Note: a sibling is a brother or a sister.
Can one sibling get money paid opon death and the other siblings not know?
Depends on the source of the money. If it is a life insurance policy, there is no requirement that anyone be informed. If it is part of the estate, then it will be a matter of public record.
Can you drive your sibling's car?
If you are a listed insured on your siblings policy then yes, you can certainly drive it. If you are not listed then your sibling needs to contact their insurance agent and ask if you are covered or not. none is allowed to drive a car illegaly without licence or a permit of a parent/guardian, if you have a licence ,then it is good ,other wise you should not drive the car
How do you find out if a life insurance policy was paid out?
How do I get information on a pay out on my fathers insurance policy made on July 2012, where all 5 siblings were named beneficiaries .
How does the insurance company calculate the amount of premium to refund when a policy is cancelled?
Insurance premiums are calculated for the year. If you cancel your policy refunds are usually issued retroactively. So if you cancel your insurance 6 months into your policy, you wil be refunded for the remaining 6 months. It is usually calculated to a daily value, so you will get a refund for the remaining days left in the year. However, it is up to the insurance compant on what their refund policy is. Some companies will have a cancelation policy of 1 months cost of insurance if you cancel your policy. Most companies however have no fee.
After a claim can you still use your insurance policy?
An insurance policy should still remain valid for the remaining term following a claim providing that the claim is such that it does not require the insurer to cancel the policy. You should check with your insurer.
If damages were paid by another's insurance co can I submit later and collect from my insurance co for same damages?
Only for the unpaid portion of the first insurance policy. For example, if the first policy covers 80% following a $500 deductable, you can file for the remaining 20% and the deductable on your insurance policy.
If you are the sole beneficiary on the life insurance policy for your mother and she dies do your siblings have a right to a share of what is left?
If you are the sole beneficiary, no, your siblings have no right to the benefits.
Can you add a brother who only has his permit to your insurance?
As far as I know, all drivers that live in your home must be listed on your insurance policy. Although i don't think you have to list someone with a permit. If the older sibling is at least 18, they may take the younger sibling for a lesson without have them listed on their insurance.
What does it mean to surrender a life insurance policy?
It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.
