if the owner of a life insurance policy dies and the policy is on her son. What happens to the ppolicy and is it part of the estate.
The new owner of a life insurance policy if the original owner dies before the insured.
No.
If the owner of an insurance policy is deceased then is should be listed as an asset when it comes to distribution. If the insured dies, then any value would be passed on to any listed beneficiaries.
After the assets are distributed, a new policy should be written. I would contact the agent and inform them of the named insureds passing.
Not under the standard auto insurance policy.
It goes to the estate
The executor should contact the insurance company and notify it of the death of the owner of the policy.
You do not need a health examination to obtain home owner insurance. Your health is not an issue. If you were to suddenly die, after buying home owner insurance, the insurance company doesn't have to pay a death benefit, since home owner insurance isn't life insurance. What happens when a home owner dies is that someone else inherits the house. The new owner will have the option of continuing the existing home owner insurance policy.
the house is paid off and given to the beneficiary
In Canada, if there is no beneficiary of the life insurance policy, the proceeds go into the estate of the owner. This person is often the same as the life insured but doesn't have to be (eg a father buying life insurance on his son. The father is the owner and the son is the life insured). The proceeds form part of the owner's estate and are distributed according to the instructions in the will after all debts have been satisfied.
Goes to the beneficiaries heir's or estate.
The proceeds belong to the estate of the beneficiary.