Legal Question in Wills and Trusts in Illinois
If the beneficiary on a life insurance policy dies, who would get the proceeds if no contingent is named?
Asked on 2/10/20, 5:43 am
2 Answers from Attorneys
Virginia Prihoda
Law Offices of Virginia Prihoda
Read the policy. It's probably the insured's intestate heirs, the individuals who would inherit if there is no will.
Answered on 2/10/20, 8:28 am
Henry Repay
Law Offices of Henry Repay
Look to the terms of the policy first. It will probably provide that it passes to the decedent’s estate or in the event that it does not cover it, that would be the default result. If there is no will, then the result of it passing into the estate would be governed by state law.
Answered on 2/11/20, 7:03 am
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