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What happens if there is no benificiary for a life insurance policy?
Wiki User
∙ 12y ago
If there is no living beneficiary then the beneficiary becomes the estate of the insured. If there is a will the administrator of executor will have the benefits to pay for last expenses and then pay out as the State Law mandates. If there is no will the magistrate or probate court will assign an administrator or executor to handle these items.
Wiki User
∙ 12y ago
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If someone pays a lapsed life insurance policy up to date does that individual become payee or benificiary?
Only if the policy owner, sends a written request to the Insurance Company to do that.
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.
If you were someones caretaker until they pass away and they leave you as benificiary on their life insurance policy and not their stepchildren does this legally belong to the caretaker?
The proceeds of the life insurance policy legally and contractually belong to the named beneficiary of the policy, in this case the caretaker.
How do you find out if you are the benificiary to a life insurance policy?
Ask the insured if still alive, or check the policy. You can also call the insurance company and ask customer service if you are the beneficiary. You would need the policy number.
Can a surviving child receive money from deceased parent's life insurance policy?
If they are named the benificiary of the life insurance policy. If they are not, it goes to the named individuals. If no one has been named, the policy will normally pay the estate and the procedes distributed according to the will or intestacy laws.
If a life insurance policy owner dies what happens to the policy?
if the owner of a life insurance policy dies and the policy is on her son. What happens to the ppolicy and is it part of the estate.
How can I contact the naic life insurance company location system?
Hello, I am trying to see if a person had a life insurance policy in California. The person is deceased and I would like to see if a benificiary was named.
How would you find out how much money would be coming to you as a benificiary from Lincoln Life Insurance?
Write to them (with the policy number for which you think you are a beneficiary) and ask.
You have your children listed on your life insurance policy if you get married will the benificiary's change?
If you are the insured you can change the beneficiary at any time as long as it is not an irrivocable beneficiary and there is insurable interest
If your ex-husband got term life insurance on you when you were married and was awarded the policy at the divorce can you have the benificiary changed without telling him if he pays on it?
On most life insurance policies only the owner of the policy can make benificary changes. So it really doesn't matter who is paying the premiums, but rather who owns the policy.
What happens if a benificiary's name is incorrect on the life insurance policy?
You need to have it corrected if it is possible, if it is not possible, you may have to go to court in order to receive benefits if you are the beneficiary. It is important to always make sure legal documents have correct names and spelling.
Can you take out a life insurance policy on your 21 yr old child without his knowledge and name yourselves as the benificiary?
Does it matter who signs the check to pay for a policy, either the insured or the beneficiary for tax purposes.
