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Is the beneficiary of a life insurance policy obligated to share benefits with family or not?
Wiki User
∙ 18y ago
Not obligated, so far as I know. The money belongs to the named beneficiary, regardless of who else thinks they should get some of it. Now, if there were instructions in a will regarding the use of that money, then that might change things.
Wiki User
∙ 18y ago
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Can family members or bank contest an ex girlfriends who was left as beneficiary to their loved ones life insurance?
No. The proceeds will be paid to the named beneficiary.
Can other immediate family members change the beneficiary of a life insurance plicy?
Immediate family members would not be able to change someone's life insurance beneficiary without power of attorney. The life insurance policy is a legally recognized document signed by the owner with a designated recipient.
Any statistics on how many life insurance claims are disputed by family members and does the beneficiary dictate payment?
Yes the beneficiary on file gets the payment
Can anyone be the beneficiary of a life insurance policy?
Yes. Anyone can get a policy on another family member.
What does beneficiary mean?
A beneficiary means one who benefits from something. The benefit may come from an estate, trust, annuity, insurance policy or some similar source.Where there is a will there is a relative. Let us say a rich Uncle likes one of his relatives he will make out his will so that when the Uncle dies the relative he likes will get his money and benefit by it. Thereby that relative becomes a "BENEFCIARY" (Beneficiary)
Can a executor be beneficiary of a will and insurance policy of the decedent?
Yes, it is very common that a member of the family be named as executor.
Must spouse be beneficiary on life insurance in Texas?
No, but whoever you list they have to have an insurable interest such as another family member.
Can a non beneficiary family member collect an unclaimed life insurance 45 year after the persons death?
yes
How do insurance companies know of your death?
A family member or the agent needs to inform the insurance company if a beneficiary deceased; They will mail a claim package to the insured family, and a copy of the death certificate will be required.
Will disability social security pay for cremation?
A one-time payment of $255 is payable to the surviving spouse if he or she was living with the beneficiary at the time of death, OR if living apart, was eligible for Social Security benefits on the beneficiary's earnings record for the month of death.If there is no surviving spouse, the payment is made to a child who was eligible for benefits on the beneficiary's earnings record in the month of death.Monthly survivors benefits can be paid to certain family members, including the beneficiary's widow or widower, dependent children and dependent parents.The following booklets contain more information about filing for benefits and can be downloaded; see related linksSurvivors Benefits (Publication No. 05-10084)Social Security: Understanding the Benefits(Publication No. 05-10024)A family member or other person responsible for the beneficiary's affairs should do the following: Promptly notify Social Security of the beneficiary's death.
Can the debtor of a beneficiary have IRS seize the money paid to beneficiary from a family members life insurance?
Yes, the debts must be paid before the estate is divided up between beneficiaries.
How good is ghi insurance, and how much is it?
GHI insurance is a good if you are looking for a insurance company that offers family benefits as well as benefits for employees of businesses. The cost ranges from $20 or more.
