Such an issue will need to be decided by the insurance provider and by the laws of the state where the deceased resided. When a beneficiary is named for a death benefit it the payout is not subject to state probate laws. When there is no beneficiary named, either the state default law will apply or the probate succession laws apply. It would be in the best interest of the involved party to consult with an attorney on the exact procedures required under the laws of the state. Most attorneys offer free or minimal fee consultation, and all state bar associations have a free referral service to help aid a person in finding a qualified attorney. Also the person might wish to visit American Bar Association Net for a list of qualified attorney's in the area in which they live, http://www.abanet.org
The beneficiary is the only one that can collect benefits unless otherwise specified in the policy such as a rider.
if someone died and left an insurance policy and named me beneficiary how can i find out
Life insurance is usually governed by beneficiary information on the policy. In other words, whoever the beneficiary is on the policy will the one to collect. You may want to consult a local lawyer to confirm this.
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.
If the husband was the named beneficiary of the policy, if the policy was in force at the time of death, and if the cause of death was not excluded by the policy, the general answer is "Yes". If the beneficiary was the estate of the wife, the proceeds are paid to the estate. Then, if the husband was a beneficiary of the estate (either by virtue of a Will naming him as beneficiary, or if no Will, through the laws of intestate succession), he may be entitled to all or a part of the insurance proceeds. If the beneficiary of the life insurance policy was someone other than the husband as of the time of the wife's death, proceeds are payable to that person.
If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do). Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named. There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.
No.
yes. until you change the beneficiary they will stay on there
If the insurance policy is older than two years of contestability period, then a benefit will be paid to the beneficiary.
If its your policy, Just call your agent======== If not, Then NO!
Whoever is the named beneficiary on the policy will collect the death benefit.
Yes. You should also name a contingent beneficiary in case the primary beneficiary predeceases you.