Q: Is a son or daughter of a beneficiary of a life insurance policy entitled to the proceeds if the the benefiary dies?
And son or daughter is not listed as a beneficiary on the policy?
A: The money goes to the estate of the deceased beneficiary. Then it is distributed based on their Will or the law (if they died without one).
James Edward Berge agrees with this answer
A: No. If the beneficiary dies BEFORE the person whose life the policy was on then the beneficiary's estate/heirs do not take. However, if the beneficiary dies AFTER the person but before they claim the life insurance proceeds then yes their estate/heirs would take.
A: I should have been more clear and said IT DEPENDS. If the beneficiary dies BEFORE the person whose life the policy was on then the beneficiary's estate/heirs do not take. However, if the beneficiary dies AFTER the person but before they claim the life insurance proceeds then yes their estate/heirs would take.
A: Is this another Law School Exam Question? I agree with what my colleagues said, if the bene dies before, the gift lapses, if the bene dies after, the gift was a part of the estate of the bene. BUT what no one is talking about is what does the policy say? There could be a provision that a gift to a dead bene will not lapse but go to his heirs. I use "gift" meaning the money paid on the insurance policy.
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