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Yes. The company or investor will then become the beneficiary to the policy, pays the premiums and collects the face value of the policy after the original policy holder dies.
In a scenario where undue influence is suspected in naming a beneficiary on a life insurance policy, investigations may involve looking at the timing and circumstances under which the beneficiary was named. Legal avenues like requesting court intervention or seeking legal advice to gather evidence and contest the beneficiary designation based on undue influence may also be pursued. It is important to consult with a lawyer specializing in estate planning or probate law for guidance on how to proceed.
The Chinese government introduced the one child policy in 1979 to alleviate social and environmental problems in China.
Beneficiary have to do all the documentation.
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Republican Party
The loss payee clause is part of the contract that states that of payment is made under the policy in relation to the insured risk, payment will be made to a third party. The payment will not go to the insured beneficiary of the policy.
There are five basic participants involved in a life insurance contract. # Contract (policy) Owner# Agent# Insured# Primary Beneficiary# Secondary Beneficiary---- The Five Participants: 1. Contract owner The contract owner is the person that actually owns the insurance policy. 2. Agent The insurance company (see notes below) 3. Insured The Insured is the person whose life is being insured. 4. Primary Beneficiary The primary beneficiary is the person who receives the death benefit when the insured dies. 5. Secondary Beneficiary The secondary beneficiary is an alternate beneficiary that will receive the death benefit if the primary beneficiary previously died. ---- An Example: For example, a wife may purchase a life insurance policy on her husband. The wife would be the owner and the husband the insured. She may name their children as the primary beneficiaries. In this case the children, not their mother, would receive the death benefit when their father dies. On the other hand, if the wife had listed herself as beneficiary and the children as the secondary beneficiaries, the wife would receive the death benefit. Then had the husband and wife died together, say - in a car accident; the children, as secondary beneficiaries, would receive the death benefit on the life policy on their father. ---- Notes:There are two parties in an agency relationship: 1. The party being represented - the client 2. The party doing the representing - the agent An insurance agent represents his client - the insurance company. The insurance purchaser is the insurance agent's customer. The purchaser is the client of the insurance company.
The lender is the beneficiary. The borrower is the trustor and the third party working for the lender is the trustee.
When a gift to a third party comes out of an agreement or a contract between two people, he is called the beneficiary. The third-party beneficiary is not obligated to any performance in the contract.
If the life insurance policy had listed as the beneficiary the spouse only then it is not considered part of the estate and is not subject to claims. If the beneficiary is the estate then it is subject to claims. The only problem with the spouse being the only beneficiary is if she was a party to the claims personally then perhaps she and the proceeds from the life insurance could be subject to these claims.
She is not responsible for the medical bill as long as the didn't sign at the hospital saying she was the responsible party. Was the daughter the beneficiary of the life insurance policy? If the beneficiary of the policy was the estate of the insured then the hospital can file a lien against the estate and life insurance to cover the medical bills. If the beneficiary was a funeral home to pay for a prearranged funeral then the hospital cannot attach the policy proceeds. If the beneficiary was the daughter directly then the hospital cannot claim the life insurance proceeds. However, this leaves the daughter with no obligation to use the entire amount for funeral arrangements.