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Generally, if the beneficiary is deceased, the proceeds go to the contingent beneficiary, or if none, to the estate of the insured. An attorney must be consulted to direct you on how to handle this in your state.

It depends on whether the beneficiary predeceased the insured. If the beneficiary died before the insured then the proceeds go the the contingent beneficiary. If there is not a contingent, check the contract, it probably is paid to the Owner of the Estate of the Insured.

If the Beneficiary died after the Insured, the proceeds go to the Beneficiary's Estate.

It is important to have a contingent beneficiary specified in your life insurance policy. This way, if the beneficiary passes away, the contingent beneficiary will benefit.

If there is no contingent beneficiary, and the beneficiary has deceased, the proceeds of the life insurance policy, go to the estate and is distributed according to the Will.

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โˆ™ 2015-07-17 17:57:46
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Q: What happens if the beneficiary of a life insurance policy is deceased?
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What if no beneficiary is named on a life insurance policy and they have a spouse what happens?

If an insured has a policy where there is no named beneficiary, or the named beneficiary is deceased, then the benefit will be paid to the insured's estate.


What happens if the beneficiary of a life insurance policy is deceased and there is no will?

In case of death of the policy holder, with beneficiary already deceased and there is no will, the Insurance Company will pay only to the Legal Heir of the Policy Holder. The death claim will be kept in abeyance till the legal heir proves his legal identity to the satisfaction of the Insurance Company.


Is life insurance considered as the estate of the deceased?

only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.


Life insurance part of estate?

Life Insurance and EstatesNO, not if the named beneficiary is not deceased. The proceeds of a life insurance policy belong to the named beneficiary not to the deceased. It should not under any circumstances be included in the estate of a deceased or the probate process. If no beneficiary is named or if all beneficiaries are deceased then their is no alternative. When their is no named beneficiary then the value of the life insurance policy reverts to the insured and must then be included as part of the deceased estate


How can second divorced wife collect deceased husbands insurance policy when first deceased wife of husband is still named beneficiary?

In order to ensure that a wife collects her deceased husband's insurance policy, it is beneficial to transfer the beneficiary of the policy while the husband is still alive. If the beneficiary of the policy is also deceased, it would be wise to seek legal help.


What happens to the proceeds of a life insurance policy if the beneficiary is unclear?

When no beneficiary has been designated the proceeds of a life Insurance policy are assigned to the probate estate of the deceased insured. It would then be apportioned by the probate court to any surviving heirs.


Is life insurance consideredpart of the estate?

If the insurance policy owner did not specify a beneficiary or the beneficiary is deceased, then the life insurance proceeds go to the insured's estate.


What if there is no will or beneficiary on a life insurance policy of the deceased?

The policy proceeds will become part of the decedent's estate.


What is a deceased beneficiary?

A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.


Can a spouse change there deceased spouses beneficiary name on a life insurance policy?

The owner of the policy can change the beneficiary of the policy. If the original beneficiary has died before the insured, the owner of the policy can designate a new beneficiary at any time.


Does the beneficiary of a life insurance policy have to pay for the deceased funeral cost or should the estate pay for it?

The beneficiary of a life insurance policy is not responsible for paying for the deceased's funeral cost using the money from the proceeds of the life insurance policy. The estate of the deceased is responsible for paying for the funeral cost from the proceeds of the estate.


How can a person be a beneficiary of a life insurance policy if the spouse of the deceased is still alive?

In rare cases, a person will make a close friend or relative the beneficiary of their life insurance policy instead of their spouse.


Does insurance money need to go to estate when deceased?

No, the insurance money goes to the beneficiary named in the policy. If the beneficiary is not named, or the estate is named, it will go into probate.


Is the executor of a deceased beneficiary entitled to the Policy?

In case of demise of the life insurance policy holder, only the NOMINEE is the beneficiary to get the amount. In case nomination is not done, the legal heir of the deceased person can apply before the insurance authority for the death benefit.


Is wife entitled to deceased husband insurance policy if she is not named on it?

If the wife is not named as a beneficiary then she would have no claim on the policy proceeds.


Does an insurance policy supersede a will in nc?

An insurance policy and a will are two separate things. The policy is a contract between the insured and the insurance company. The beneficiary of the insurance policy is spelled out in the contract. The insurance company will pay the insurance proceeds to whoever is listed to receive the proceeds. The proceeds from an insuranc policy can be paid into the estate of the deceased and disbursed according to the terms of the will. The issue is who is listed as being the beneficiary of the insurance policy.


Can the beneficiary see a copy of the life insurance policy of a deceased parent?

Contact the insurance company for information on how to make your claim and ask if they can supply a copy of the policy.


Does a will have any effect on a life ins policy?

No, it does not. Life Insurance is a contract between the deceased and the insurance company. Unless the estate has been listed as the beneficiary, the will has no affect on the policy.


Is the beneficiary of a life insurance policy responsible for the deceased credit card debt?

Not that I know of.. What does one thing have to do with the other?


Is the beneficiary of a life insurance policy responsible for back child support of deceased?

No, you are not responsible for their back child support.


Can anyone contest a life insurance if you are not listed as a beneficiary?

No, only the policy owner (usually the insured) can decide who the beneficiary is on a life insurance policy. Life insurance has nothing to do with a will or estate distribution after someone's death. That's why it is imperative to keep the beneficiary section updated constantly based on the life changes; too many people who get divorced forget to update their life insurance beneficiary on the policy and benefit may go to the ex-spouse. Life insurance companies are bound by the contract that is the life insurance policy to only pay the beneficiary specified on the policy. If all beneficiaries specified on the policy are deceased, then the benefit will be paid to insured's estate.


Is a parent the beneficiary of their child's life insurance?

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.


Who can legally change the beneficiary on a life insurance policy if the insured is deceased?

A judge, if there is a good enough reason presented to the court.


How old does a beneficiary have to be for to receive payment from a life insurance policy?

There is no age restriction for a beneficiary on a life insurance policy.


What happens if the sole beneficiary on an insurance policy dies before that person and the policy is never changed?

It goes to the estate