Life Insurance

Is it possible to be a beneficiary if you are not part of the immediate family and if so will they know you received a payment?


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Wiki User
2004-12-31 02:42:41
2004-12-31 02:42:41

Part 1. Yes. examples are credit, mortgage life insurance. Part 2. Probably not, but no guarantees.


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The self-employed person who received the fee is responsible for their own income taxes.

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Ownership cannot be changed after death. All rights and responsibilities of the owner of the policy end at death of the insured. At death, proceeds will be paid out to the beneficiary and if the method of payment was decided before death then payment is set as well. If payment method is not set then the beneficiary can decide how they want to received payment. There are many ways they can receive payment.

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You can get immediate healthcare coverage by contacting an insurance agency and applying immediately. In general, the policy will become active as soon as your first payment is received.

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