by bjamm1972 » Tue Jul 21, 2009 02:34 am
does each state have their own rules regarding life insurance policies? where can i find any information about this? basically, what does the law state in illinois if the beneficiary of a life insurance policy is deceased? the beneficiary died before the policy owner and no new beneficiary was named. suposedly, there is not a contingent beneficiary. do the monies go into the policy owner's estate(who is deceased)to be divided? hope i am not confusing anyone...sure am confusing the hell out of myself..thanks for any help
Posted: Tue Jul 21, 2009 09:45 am Post Subject:
Yes bjamm1972, every state has their own laws to govern such issues, though the laws don't differ much from state to state. If there is no beneficiary named in the policy the death benefit would then go to the estate of the decedent.
Does the deceased have a will or he died intestate? Who is the next kin of the deceased?
Add your comment