If a life insurance policy named someone that was deceased as the beneficiary, who can collect the proceeds?

There are only 2 nieces left in their family.

Asked on May 13, 2016 under Insurance Law, California


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

If there are primary co-beneficiaries named in the policy, then the proceeds will be divided among the other beneficiaries. However, if all primary co-beneficiaries die or there are not other co-benficaries, then if there are secondary or "contingent" beneficiaries, they will receive the proceeds. If no secondary benficaries are listed, then the life insurance proceeds are paid into the insured's estate. They will then pass as per the residuary clause of their Will, or if there is no Will, it will pass as per state intestacy law.

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