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When there are 2 beneficiaries why are the survivors of the 1st beneficiary entitled to life insurance claim and not the 2nd beneficiary?
Wiki User
∙ 16y ago
The actual claim paymet would go the the estate of the deceased and distributed according to his/her will.
Wiki User
∙ 16y ago
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What is a successor's status in collecting life insurance as verses a beneficiary's?
A successor typically becomes the beneficiary of a life insurance policy if the original beneficiary is deceased at the time of the policyholder's death. The successor would be entitled to the policy's proceeds just like the original beneficiary, as specified in the policy contract.
Is the beneficiary also the executor of the life insurance?
No. They are separate. Beneficiaries are those who are entitled to an inheritance. The Executor carries out the will. * A person(s) named as a beneficiary on a life insurance policy receives the money directly from the insurer. Such policies are not subject to probate procedure.
What is the difference between a primary beneficiary and a tertiary beneficiary?
A tertiary beneficiary is only entitled to proceeds if the primary and secondary beneficiaries are no longer living.
Insured which is me and beneficary Grandmother died who is entitled to the life insurance benefits?
If you are the insured and your beneficiary died, and you had a secondary beneficiary then the money would go to the secondary. If you had split beneficiaries, then her cut would get funneled to the other beneficiaries. If you didn't have split beneficiaries or secondary beneficiary, the money should go to your estate where your creditors would get first pickings. Therefore, I would get myself to the insurance company (phone, website, broker) and update that policy ASAP.
If you are not listed as a beneficiary on your fathers life insurance policy are you entitled to anything?
You are entitled to no proceeds from the life policy if the beneficiary or contingent beneficiary is still alive.
Does only the beneficiary have access to ones death life insurance policy?
NO. The beneficiary is only entitled to the death benefit proceeds when the insured dies. The owner of the life insurance policy controls the policy, the beneficiaries, any cash values, and is responsible for premium payments. The owner has the ultimate control of the life insurance policy and can change the beneficiary of the policy at any time...and does not need the beneficiary's permission to do this. LifeInsuranceAdvisors.com
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
If you are your ex-spouses beneficiary on a life insurance policy are the ex's children from a previous entitled to a childs' part?
== == It's all a function of who's listed as the beneficiary. If someone doesn't agree and brings a lawsuit about it - The Insurance Company will probably just ask the court to decide - It would be wise to plan ahead and set up trusts, change beneficiaries, whatever so that the insured's desires are met.
Is an ex-wife entitled to a husbands insurance settlement after 10 years of marriage the accident happened 8 years after their divorce but she still wants 50 percent of his settlement?
Many people who divorce do have a clause in the decree regarding insurance beneficiaries. If the decree is written this way and/or the policy includes her as a beneficiary, then she certainly has rights.
Is a beneficiary of a trust entitled to a complete copy of the trust agreement if one of the settlers is still alive?
Yes, a beneficiary of a trust is typically entitled to a complete copy of the trust agreement, regardless of whether the settlor is alive. It is important for beneficiaries to have access to the terms of the trust in order to understand their rights and obligations under the trust.
Is wife entitled to deceased husband insurance policy if she is not named on it?
If the wife is not named as a beneficiary then she would have no claim on the policy proceeds.
Is a spouse entitled to part of life insurance benefits even if child is named as beneficiary?
The policy is paid to the beneficiary. It should be placed in trust for the child if the child is a minor. If the child is an adult, the proceeds will be sent to the named beneficiary.
