Does Life Insurance Go To Estate Or Beneficiary?
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63333 POINTSview profilePeggy MaceMost of the U.S.If the owner of the life insurance policy designates the estate as the beneficiary, the life insurance proceeds will go to the estate. If the owner of the policy designates a person or persons as beneficiary, the death benefit is paid directly to that person or persons. If the person who was named beneficiary passes away before the insured person, and no new beneficiary is named, the life insurance proceeds could go to the estate.Answered on June 17, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaLife insurance is a contract. It is handled outside the estate unless the estate is the beneficiary or the beneficiary and all contingent beneficiaries are either not alive or elect to pass it to the estate. This means that the money is not subject to the scrutiny of a probate court and goes immediately to the beneficiary. This is one of the advantages of life insurance.Answered on August 1, 2014flag this answer
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