0
Add your answer:
Earn +20 pts
Who is a beneficiary?
A beneficiary is the person who receives the benefit (usually money) from an insurance policy or a trust.
Who receives the benefits or money from a life insurance pplicy upon the death of the insured?
Upon the death of the insured, the person or persons selected as the receiver of benefits in the contract receives the benefits or money from a life insurance policy.
What is the meaning of beneficiary?
"The person who receives the benefits", most commonly used in insurance policies for the person who gets the money if the policy must be paid out.
Who receives the benefits or money from a life insurance policy upon death of the insured?
Nominee stated in the policy or the legal heir if no nominee is mentioned.
Who receives the benefits or money from life insurance policy upon the death of the insured?
Nominee stated in the policy or the legal heir if no nominee is mentioned.
How can one sell their life insurance policy?
One can sell their life insurance policy and this is called Viatical Settlement. An insurance company sells insurance policy to a person. This person (viator) sells his policy to another person (viatical settlement provider). When the first person dies, the second person will benefit and cash in the money.
Who receives the benefits or money from a life insurance upon the death of the insured?
Nominee stated in the policy or the legal heir if no nominee is mentioned.
Who receives life insurance money if no benificiary is named?
If no beneficiaries are named on a life insurance policy, or all named beneficiaries are deceased, then benefits will be paid to the insured's estate.
Is the beneficiary also the executor of the life insurance?
No. They are separate. Beneficiaries are those who are entitled to an inheritance. The Executor carries out the will. * A person(s) named as a beneficiary on a life insurance policy receives the money directly from the insurer. Such policies are not subject to probate procedure.
I have a question about auto insurance Would the policy holder get their money back be reimbursed if they added 1 person to their insurance policy and then took them off right away?
No, the person will not be reimbursed for taking someone off their insurance immediately.
Can someone take out a life insurance policy on someone that they do not know?
Why in the world would anyone want to pay that much money for an insurance policy if they did not know the person? Life insurance is expensive.
What does agreement to furnish insurance policy?
Insurance is a contract or agreement providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. This agreement is the very basis or foundation of an insurance policy bond.
