Who get the proceeds of a life insurance policy if the beneficiary dies?

My husband died 7 years after his first wife. I recently received mail from and insurance company indicating that there was a “forgotten policy” with his deceased first wife as beneficiary. They had 2 kids. Am I entitled to any of the proceeds?

Asked on August 31, 2012 under Insurance Law, Georgia

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

No. At this point, you would not be entitled to any of it. The beneficiary designation would fail and the proceeds would go through his secondary beneficiary if he had one and if not, it would go through his will or other testamentary document like a trust.  If neither of these existed, it would go through probate law and that means it would most likely be split between the two children as a residuary.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.