Such a situation would assume there is a trust in place. A good lawyer would suggest a interested party such as a family member.
If the insurance company accepted the policy, and unless there are specific provisions for dividing the benefit, it will be equally divided between the three beneficiaries.
Yes, you can have two primary beneficiaries for your insurance policy.
The person, company or trust that is specified under "Beneficiaries" section in the insurance policy will receive the life insurance benefits. If the beneficiaries are more than one, the benefit is split according to policy details, or policy schedule pages.
A live insurance company is a company that holds a "life insurance" policy on a person. The policy is taken out by a person and fees are paid. And, if for some reason the person's life ends, the policy is paid out to the beneficiaries as long as the death was not done on purpose.
The insurance company must be notified of the insured's death, preferably by a beneficiary, policy owner, or an insurance agent, at which point it will send out packages of paperwork to all beneficiaries on file for that insurance policy. The paperwork is filled out by each beneficiary and returned to the insurance company, along with a certified copy of a death certificate, at which time the insurance company processes the paperwork, verfies the eligibility of the claim, and then, if appropriate, pays out the proceeds of the insurance policy.
Sue her and the life insurance company that paid her.
Yes, the owner of the policy can make any changes regarding beneficiaries, split, benefit amount, etc. Ask for a "Policy change form" from your agent or insurance company.
Primary and Secondary
primary and secondary
I believe you are asking about waiver of insurance policy premium. There are certain insurance policies like children's plans, where even if the policy holder (Parent) is no more, the insurance company would waive off the premium payments and continue to provide the benefits to the policy beneficiaries (Children)
You should phone the insurance company and ask them about it; make sure you have the insurance policy number on hand, they will need to know.
Yes, the insurance company will pay the benefit amount to each beneficiary as named on the policy at the percentage listed.