If you are the sole beneficiary, no, your siblings have no right to the benefits.
Answering "If mother in law is beneficiary on single grownup son life insurance policy does the mother have any rights?"
If no beneficiary is listed on a life insurance policy then the benefits are payable to the insured's estate. The beneficiary can be changed at any time prior to the death of the insured if this is the person's desire.
Absolutely Not!
Only the person named as beneficiary on the insurance policy will receive money from that policy. Any other monies or other property in the estate would be divided up between the siblings if the parent died intestate (meaning without a will).
Yes, you can have a secondary beneficiary on your life insurance policy. If the primary beneficiary is no longer living when you pass away, the secondary beneficiary would receive the proceeds from your life insurance policy.
The beneficiary of a life insurance policy is the person or entity designated by you when you apply for the policy and when it is issued by the insurer.
The purchaser of an insurance policy names the beneficiary.
This all depends on who took out the life insurance policy and who was named as the primary beneficiary at the time. The primary beneficiary is named within the policy document. The primary beneficiary may or may not be the father and/or mother. If the primary beneficiary is deceased, then check the policy for a named contingent beneficiary. If there are no named beneficiaries living, then the policy proceeds become part of the policy holder's estate. Please consult with a qualified attorney, to determine guardianship of the child's estate. Ask the insurance agent and a lawyer for a free consult to be sure.
Yes, there is no bar in the insured person being beneficiary on another insurance policy.
You can typically find out who the beneficiary is on a life insurance policy by checking the policy documents or contacting the insurance company directly. The beneficiary information is usually listed on the policy itself, in the beneficiary designation form, or in the insurer's records.
The named beneficiary on the life insurance policy gets it. It is a contract and specifies who gets paid, usually it will be the spouse.
The Insured can change the beneficiary on a life insurance contract.