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A Contingent or Secondary Beneficiary will receive the proceeds from a life insurance policy after the Insured's deaths, if the Primary Beneficiary does not survive the Insured Person. This means, if the primary beneficiary is not alive at the time of death of the insured person, then the contingent beneficiary will receive the proceeds from the life insurance policy. Examples of situations which may give rise to the contingent beneficiary receiving the proceeds from a life insurance policy. 1. The insured and primary beneficiary die in an accident together, for example, a car accident. 2. The primary beneciairy dies, and the insured forgets to update the beneficiaries for his/her life insurance policy.
What else can I help you with?
What is presentation of documents under a letter of credit under reserve?
Provisional payment made to the beneficiary of a letter of credit (L/C) where the documents submitted under the L/C has discrepances. If the issuing bank reject the docs, the nego bank can claim the money back from the beneficary. Here the exposure of the bank will be on the beneficary and not the issuing bank.
Can you be made to get a life insurance policy with your ex as the beneficary?
this may not be uncommon in settling a divorce. It generally involves protecting the welfare of children from the ending of a marriage.
What is the difference between an annuitant and beneficary?
Annuitant is the original policy holder and receiver of benefits while beneficiary is the one legally authorized receiver of benefits in case of death of the annuitant.
What happens to the money left in a estate when one beneficary cannot be found?
It should be held in the registry of the court. If it remains there for a certain period of time (could be seven years), it escheats to the state.
Can you stop payment of irrevocable letter of credit?
the best way is to negotiate with beneficary if had any problem regarding delivery or quality, but once the documents accepted, u cannot stop the L/c
After death Is a beneficary entitled to see a copy of an irrevocable trust after death?
After death is a beneficary entitled to see a copy of a testamentary trust?
Can a power of attorney change a beneficary on a life insurance policy in nyc?
Can a power of attorney change a person beneficary on their life insurance policy?
What happens if the primary beneficary is ill?
If they are living then they would inherit.
Can a beneficary take money before persons death?
short answer ~ No
Who gets benefits if ex named you as common law wife but are longer together but still is named as beneficary?
AnswerIf you're named as beneficary - then you get the $$$. That's why it's important to review & update your coverage, at least annually.
As the administrator of an estate can you contest a named beneficary of an estate based on the requsets of parental hiers?
Not if it is in the will.
Could someone else have collected on your father's life insurance even though you were the beneficary?
No
Can some one apply for a lone on some one's behalf?
Yes, if the Beneficary is a Minor.
How does the trustee of an irrevocable trust distribute to the beneficary who is now deceased?
it goes to the next of Kin or to the state as cherity
Can a POA for someone endorse a check for them and then deposit the check into the POA's account?
cAN A poa NAME THEMSELVES AS A BENEFICARY
What is presentation of documents under a letter of credit under reserve?
Provisional payment made to the beneficiary of a letter of credit (L/C) where the documents submitted under the L/C has discrepances. If the issuing bank reject the docs, the nego bank can claim the money back from the beneficary. Here the exposure of the bank will be on the beneficary and not the issuing bank.
You are beneficary of your deceased sisters insurance policy but next of kin has disputed?
If you are named beneficiary on the polcicy it is contractually binding. Let them dispute all they want.
