If a beneficiary under a policy is deceased, and if the beneficiary designation did not provide for an alternate beneficiary, then the proceeds are payable to the insured's estate. To access the proceeds, you would probably need to go through probate or some other form of proceeding for the passing of a decedent's assets.
my father passed away and forgot to change his beneficury when he divoriced 14 years ago. what is going to happen with his life insurance ?
Father Time has changed Kentucky.
I need to report my father's death and collect on his life insurance policy.
Yes you can. To get insurance, insurance companies, want to see an "insurable interest." Since he is the father of your child, you have an insurable interest on him.
Yes, you situation can result in a denial of coverage.Homeowners insurance is property and liability coverage specific to the property of the named insured(s). Since your father has died, You have to buy insurance in the name of the new owner
no
I need help
In Canada, if there is no beneficiary of the life insurance policy, the proceeds go into the estate of the owner. This person is often the same as the life insured but doesn't have to be (eg a father buying life insurance on his son. The father is the owner and the son is the life insured). The proceeds form part of the owner's estate and are distributed according to the instructions in the will after all debts have been satisfied.
ask the sibling.
No, it's fraudulant. It's not practical, the secondary insurance should pay the remainder of the cost the primary insurance doesn't cover.
The insurer (either your mother/father or both) are responsible for all costs.
Nothing happens