0
A Contingent or Secondary Beneficiary will receive the proceeds from a life insurance policy after the Insured's deaths, if the Primary Beneficiary does not survive the Insured Person. This means, if the primary beneficiary is not alive at the time of death of the insured person, then the contingent beneficiary will receive the proceeds from the life insurance policy. Examples of situations which may give rise to the contingent beneficiary receiving the proceeds from a life insurance policy. 1. The insured and primary beneficiary die in an accident together, for example, a car accident. 2. The primary beneciairy dies, and the insured forgets to update the beneficiaries for his/her life insurance policy.
Add your answer:
Earn +20 pts
After death Is a beneficary entitled to see a copy of an irrevocable trust after death?
After death is a beneficary entitled to see a copy of a testamentary trust?
Can a power of attorney change a beneficary on a life insurance policy in nyc?
Can a power of attorney change a person beneficary on their life insurance policy?
Can a beneficary take money before persons death?
short answer ~ No
What happens if the primary beneficary is ill?
If they are living then they would inherit.
Who gets benefits if ex named you as common law wife but are longer together but still is named as beneficary?
AnswerIf you're named as beneficary - then you get the $$$. That's why it's important to review & update your coverage, at least annually.
As the administrator of an estate can you contest a named beneficary of an estate based on the requsets of parental hiers?
Not if it is in the will.
Can some one apply for a lone on some one's behalf?
Yes, if the Beneficary is a Minor.
Could someone else have collected on your father's life insurance even though you were the beneficary?
No
Can a POA for someone endorse a check for them and then deposit the check into the POA's account?
cAN A poa NAME THEMSELVES AS A BENEFICARY
How does the trustee of an irrevocable trust distribute to the beneficary who is now deceased?
it goes to the next of Kin or to the state as cherity
What is presentation of documents under a letter of credit under reserve?
Provisional payment made to the beneficiary of a letter of credit (L/C) where the documents submitted under the L/C has discrepances. If the issuing bank reject the docs, the nego bank can claim the money back from the beneficary. Here the exposure of the bank will be on the beneficary and not the issuing bank.
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.
