In Case The Beneficiary Of A Life Insurance Policy Is Dead

by David Jenyns on December 13, 2011

Think about your primary beneficiary in advance, when purchasing a life insurance plan. It’s also smart to designate a dependant beneficiary to make sure that if the primary beneficiary dies, there would be a successor.

If you are planning to obtain a life insurance plan, it’s very helpful for you to understand that there will be an agreement between you and the insurance firm to put things legally.

Possessing a life insurance policy provides peace of mind to the insured individual, realizing that his/her death will not cause financial difficulties to family members left. After the death of the covered person, the insurance company requires legally acceptable proof of death before paying the claim. Typically, a death certificate and also the insurance provider claim form fully filled out, signed and notarized would be enough.

If The Beneficiary Is Dead

It has been a common practice that if the beneficiary is dead, the proceeds will go to the contingent beneficiary who’s an individual eligible to receive the benefits of an insurance policy if the main beneficiary is dead. If there’s none, it goes to the trust or estate of the covered policy holder. The particular service of legal counsel is necessary to manage this kind of situation.

A depending receiver is just secondary to the primary beneficiary. She or he can have the right to claim the earnings from the insurer if the latter is deceased or cannot receive the proceeds for some other reasons. A contingent beneficiary could also be a Trust or Estate designated by the policy holder to be the receiver of the assets in case the primary beneficiary is dead.

What Makes A Main Beneficiary Powerless?

1. Loss of life – number one reason is death of the primary beneficiary.

2. Failure on the part of the primary beneficiary to adhere to restrictions attached to the will of the insured.

Before purchasing a life insurance plan and finding life insurance quotes online, it is important to have a strong reference and decision. Research life insurance quotes online could be a big help to obtain a good and also useful insurance policy which would meet your requirements and fit your budget.

Getting life insurance coverage will require you to have a primary beneficiary and to assign a contingent beneficiary. On your death, the complete face price of your policy will go to your main beneficiary. The dependant beneficiary is secondary; if there is no contingent beneficiary the trust or estate is next in line.  

If you want to read more about life insurance quotes online, have a look at


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