More than one primary beneficiary can be named, with the grantor able to direct particular percentages to each. If the primary beneficiary is no longer alive or able to collect, a contingent beneficiary may also be named.

What if life insurance beneficiary is deceased?

Who gets the death benefit if the primary beneficiary dies? If the primary beneficiary dies, the secondary beneficiary gets the death benefit. If the insured chose a per stirpes death benefit designation, then the primary beneficiary’s heirs get the primary beneficiary’s portion of the benefit.

Can a sibling be a beneficiary of a life insurance policy?

If you are your parent’s only life-insurance beneficiary, your siblings are out in the cold. None of them can make you share the insurance payout. If the beneficiary designation isn’t clearly stated, things may be different.

What happens to your life insurance policy if your spouse dies?

If your primary beneficiary — your spouse — dies before you, your insurance policy proceeds will go to your secondary beneficiary, your sister. But if you don’t have a secondary beneficiary listed (that is, only your spouse is listed on your life insurance policy) then there is essentially no beneficiary.

What happens when the primary beneficiary of a life insurance policy dies?

If your primary beneficiary — your spouse — dies before you, your insurance policy proceeds will go to your secondary beneficiary, your sister. But if you don’t have a secondary beneficiary listed — that is, only your spouse is listed on your life insurance policy — then there is no one left to collect the death benefit payout.

How can beneficiaries claim life insurance and Social Security?

If more than one adult beneficiary was named, each should submit a claim form. If the primary beneficiary died before the policyholder did, then the alternate (contingent) beneficiary can claim the proceeds. An alternate will need to submit the death certificate of the primary beneficiary in addition to the death certificate of the policyholder.