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No, it will go as part of the estate of the deceased (as set out in the will). If there is no will then the estate (including the life policy payout) will be handled by the state and distributed as required by your local state/country laws.

Thus if the deceased had debts on death and the insurance beneficiary was NOT identified in the policy, the payout will go towards settling the debts first (after the funeral expenses).

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8y ago

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What happens if beneficiary named on life insurance policy dies before the policy holder?

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.


If a Beneficiary is deceased who is entitled to the Policy if no secondary beneficiary is named?

The policy will be paid to the decedent's estate if there are no named beneficiaries or if the ones named have predeceased. the legal spouse or next of kin


Is Life Estate part of the deceased's estate?

If life insurance is payable to a beneficiary other than "the estate of ...[the decedent]", proceeds are payable directly to the named beneficiary and do not normally become part of the estate. However, if the designation of beneficiary of the life insurance policy is the estate of the decedent, proceeds do usually become part of the estate.


Is life insurance exempt from creditors in state of Iowa?

Yes, with a but. As long a a beneficiary is named for the policy and that beneficiary is alive then creditors cannot touch the proceeds. If a beneficiary is NOT named or has died, then the benefits are paid to the INSURED persons estate. A persons estate will go to their next of kin, but NOT before creditors take what is owed to them.


What happens if the beneficiary of a life insurance policy has passed away leaving no will?

My uncle was beneficiary on his mother's policy and has since passed away leaving no named beneficiary, so do the proceeds get distributed pursuant to the will? Yes Otherwise, check the rules for your state on "intestate" sucession. This situation is why it's a good idea to name a secondary beneficiary. If the primary passes away, the next in line gets the payout.


What if there is not an estate to pay for the funeral does the beneficiary of life insurance policy have to pay?

The life insurance is part of the estate not separate from it. In the UK and most other countries, all debts starting with the funeral expenses must by law be paid first from a persons estate. Once all funeral costs, debts and expenses are paid from the estate, only then can any monies be paid out (if there are any left after payment of such bills and expenses).United StatesWhen the decedent named a beneficiary on a life insurance policy the payout goes directly to the beneficiary and is not considered part of the estate. Being a named as a life insurance beneficiary does not oblige the beneficiary to pay for the funeral. The next of kin, if any, must pay for the disposition of the body. If the beneficiary is also a next of kin you may be successful in suing them for their share of the expenses.


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.


If the beneficiary of a life insurance died before the policy holder and there was no contingent beneficiary does the life insurance go the next of kin or to the estate?

The life insurance proceeds must enter the estate, The Executor of the estate will then determine how, when and to whom it should be dispersed.


If the beneficiary of an life insurance policy dies after the insured without knowing they were a beneficiary who would get the money?

The insurance proceeds would be part of their estate and would pass according to their will or by intestacy to their next-of-kin.


What if the beneficiary is Policy owner deceased?

It usually reverts back to the insured or the next designated policy owner. Be well. mcdlife.com


Does next of kin have any rights to life insurance death benefits if not listed on the policy?

This is actually not a straight answer but this is how it works. If the next of kin are not listed as the beneficiary of the policy and the current beneficiary is living; no, the beneficiary of record is entitled to payment from the insurance company. You could take the beneficiary to court to see if a judge will over turn it but it is unlikely that they will because the life insurance contract is a binding legal document. And furthermore the life insurance company is obligated to pay in monies to the beneficiary on record so by the time you take it to court that money would have already been paid out. If no beneficiary is selected, depending on the state the contract is enforced in, it money could go into probate and you would have to go through the probate process to have access to any funds. Keep in mind that probate opens the doors to creditors/debtors as well.


How do you get money after being notified as a beneficiary?

If you have been notified that you are a beneficiary of an insurance policy or will, you should contact the person who notified you to learn what to do next.