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What do you do if you are the next of kin and the beneficiary on the life insurance policy doesn't want the proceeds?
== == Do you mean that you are, for lack of a better way to phrase it, the next in line for the proceeds? If you are, then act according to what you would do if you had been the beneficiary in the first place. The fact that someone else does not want the responsibility or the blessing (?) of the proceeds should not change your actions. If you are the beneficiary due to their lack of interest or willingness do what you would normally do and won't worry about it being unethical. == == Simple answer - ask him to sign the check over to you.
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Does an insurance policy supersede a will in nc?
An insurance policy and a will are two separate things. The policy is a contract between the insured and the insurance company. The beneficiary of the insurance policy is spelled out in the contract. The insurance company will pay the insurance proceeds to whoever is listed to receive the proceeds. The proceeds from an insuranc policy can be paid into the estate of the deceased and disbursed according to the terms of the will. The issue is who is listed as being the beneficiary of the insurance policy.
Can you have a secondary beneficiary on your life insurance?
Yes, you can have a secondary beneficiary on your life insurance policy. If the primary beneficiary is no longer living when you pass away, the secondary beneficiary would receive the proceeds from your life insurance policy.
What if no beneficiary is listed?
If no beneficiary is listed on an insurance policy the proceeds will be paid to the decedent/owner's estate.
Does the person who is named Beneficiary on a Life Insurance Policy have to split the money if they are sole beneficiary on the Life Insurance Policy however in the Will states that assets be divided?
If the insured has died the proceeds from the insurance will be paid AS STATED IN THE POLICY. The proceeds of the claim are not part of the assets of the deceased's estate.
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.
In Louisiana does a divorced spouse remain an insurance beneficiary?
Yes, if the owner of the policy does not file a change of beneficiary the insurance will have to pay the proceeds to the person who is named on the policy.
What happen when the insured on an ins policy dies without a will?
The proceeds of the insurance policy are not effected as long as there is a named beneficiary. If the estate is the beneficiary than the proceeds are subject to probate and taxation.
What if there is no will or beneficiary on a life insurance policy of the deceased?
The policy proceeds will become part of the decedent's estate.
Is life insurance consideredpart of the estate?
If the insurance policy owner did not specify a beneficiary or the beneficiary is deceased, then the life insurance proceeds go to the insured's estate.
Will my life insurance policy have to pay my student loans?
No. Life insurance is paid the the beneficiary named in the policy, your creditors have no claim against the insurance proceeds EXCEPT if the proceeds are paid to your estate.
Are proceeds from life insurance og group plan taxable?
Usually, life insurance proceeds are free from federal taxes. If the beneficiary is an individual person/persons, the proceeds of a life isnurance policy are tax-free. If the beneficiary of a life insurance policy is the "Estate" of the insured person, the proceeds may be subject to estate taxes.
Person listed as beneficiary?
A person listed as a beneficiary is the receiver of any proceeds from an insurance policy. They are normally named in the policy document or can be named in a will.
