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.
who collects the life insurance in a marriage when one spouse dies and theres no beneficiary on file
The holder is the owner, In the case of Life Insurance , the person paid is the beneficiary .
The policy holder has the choice to change the name of the beneficiary at any time, including after the death of a named beneficiary. If the policy holder doesn't change the name of the beneficiary after the beneficiaries death, depending on what state you live in it goes to next of kin.
the person in whose name the policy is issued legally is known as policy holder the person who gains insurance cover is known as beneficiary ,it may be himself or dependents(nominees)
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.
the house is paid off and given to the beneficiary
Under normal circumstances the named beneficiary collects the proceeds from a life insurance policy without court intervention.
Do you mean as owner or as beneficiary? Either way, yes.
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 any life insurance policy, though there is provision for appointment of nominee, on maturity the proceeds will be payable to the policy holder if he/she is alive. By this way, the owner of the policy and the beneficiary is the same person.
The beneficiary of a life insurance policy is solely up to the policy holder. It's not very likely that the insurance agent would give advise other than to inform the policy holder that they have the right to designate any person they wish as their beneficiary. Although you could certainly sue almost anyone for almost anything, Winning the suit is another matter.
In that case, the money will be kept deposited with the insurance company as unclaimed amount. In absence of the beneficiary, the insurance company can pay the money to the legal heir of the policy holder, but that has to be sufficiently proved in the Court of Law.