Who is entitled to the proceeds from a life insurance policy if there is no beneficiary listed?

My brother passed away 54 months ago He had a life insurance policy through his job but had no beneficiary listed. He was married and also has surviving parents. Does all the money go to the wife or can his parents/siblings get a portion of it as well?

Asked on December 28, 2017 under Insurance Law, Arkansas

Answers:

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

Answered 3 years ago | Contributor

When no beneficiary is listed for life insurance proceeds, then such proceeds are payable to the deceased's estate. If they had a Will, then the residuary clause in it dictates how the money is distributed; if they had no Will then their surving spouse and children, if any, will inherit.


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.