The insurance company must be notified of the insured's death, preferably by a beneficiary, policy owner, or an insurance agent, at which point it will send out packages of paperwork to all beneficiaries on file for that insurance policy. The paperwork is filled out by each beneficiary and returned to the insurance company, along with a certified copy of a death certificate, at which time the insurance company processes the paperwork, verfies the eligibility of the claim, and then, if appropriate, pays out the proceeds of the insurance policy.
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.
You can contact the life insurance company. They should be able to send you the necessary paperwork to change the beneficiary. If you have an agent, they should be able to help assist in the process too.
When a life insurance policy is purchased, the purchaser (usually the insured) designates a primary beneficiary and a contingent beneficiary. The contingent beneficiary gets the proceeds if the primary beneficiary predeceases the insured. The insured can name a new primary beneficiary by contacting the insurance company or the insurance agent. THIS IS ONLY TRUE FOR PURCHASED LIFE POLICIES___ NOT POLICIES THROUGH AN EMPLOYER UNDER ERISA.
Contact the insurance company for information on how to make your claim and ask if they can supply a copy of the policy.
The person named as the beneficiary on the policy, or on file within the records of the insurance company. James V. Medici, CLU,CLTC Charlotte, NC
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.
There is no requirement that they do so. The life insurance is a contract between the deceased and the company.
Assuming you are talking about Life Insurance the answer is no. Once the insured is deceased, this will trigger the insurance company to pay the benefits to the beneficiary, and the policy will no longer exist. The owner no longer owns anything.
Your spouse can get a separate policy (usually cheaper) or you can contact your insurance company to get the right paperwork for adding your spouse. Adding your spouse as a beneficiary, your agent can help.
Yes, when the beneficiary was changed the insured would have received paperwork. Find it or if you are a party to the policy than you can call the insurance company and ask.
Not if they found out.