Who receives a life insurance policy if the beneficiary has passed away?

Full question:

A women passed away in May and left a life insurance policy to her mother and another to her husband and 3 children. Her mother passed away 3 years ago, so who does the insurance policy that was left to her mother go to? Her husband and 3 children or her mothers husband (they were separated for almost 15 years)?

  • Category: Insurance
  • Subcategory: Life Insurance
  • Date:
  • State: Florida

Answer:

If the beneficiary of a life insurance policy dies before the insured and there is no alternate beneficiary, the policy proceeds go to the estate of the deceased beneficiary. An exception exists if the will specifies who should receive the proceeds, but they would still be paid to the estate first.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

When the policyholder dies, the life insurance policy pays out a death benefit to the designated beneficiary or beneficiaries. If the primary beneficiary has passed away and no alternate beneficiary is named, the proceeds typically go to the deceased beneficiary's estate. This means the funds may be subject to probate and distributed according to the deceased beneficiary's will or state law if there is no will.