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Who can be a beneficiary?

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โˆ™ 2008-02-25 17:32:38

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Anyone the policy owner names can become the beneficiary.

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โˆ™ 2008-02-25 17:32:38
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Related questions

What is the possessive of beneficiary?

The possessive form for the noun beneficiary is beneficiary's.


What is the possessive form of beneficiary?

The possessive form for the noun beneficiary is beneficiary's.


where is infomation on beneficiary?

where is infomation on beneficiary


What is the plural of beneficiary?

The plural of beneficiary is beneficiaries.The plural of the singular noun beneficiary is beneficiaries.


Why there is there a first beneficiary and second beneficiary?

Incase something happens to the first beneficiary. Such as: they pass away.


Can a beneficiary of an IRA name a successor beneficiary in the state of Colorado?

No. A beneficiary has no authority to name a beneficiary of another's property. Only the principal can name the beneficiary. Generally, if the primary beneficiary declines to accept the inheritance then the gift will lapse and the property will be included in the estate.


Is the executor of a will also the beneficiary?

Only if named a beneficiary in the will.


What is a sentence using the word beneficiary?

Beneficiaries are those who benefit. Here are some sentences.The beneficiaries of his will were happy with what he left them.We are all beneficiaries when people take care of the earth.That law will have many beneficiaries.


What does irrevocable beneficiary mean?

It means that if you want to change the beneficiary, the beneficiary themselves must sign off on it.


Can a beneficiary of an IRA name a successor beneficiary?

Yes, the beneficiary of an inherited IRA (AKA beneficiary IRA) can name a beneficiary to that account. In the past, this was not really allowed so some form may still practice as such.


Who collects the life insurance if the policy holder and beneficiary have died?

If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do). Note that this is a fairly unusual situation, because normally when a beneficiary dies, a new beneficiary is named. There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.


Do you have to change your will or can you just change a beneficiary for your life insurance?

As long as you did not make your beneficiary irrevocable, you can just change your beneficiary. If your beneficiary is irrevocable you are out of luck unless you can get them to authorize the change.

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