Life Insurance

For the state of Illinois.

In a life insurance policy the co-annuitant is
the deceaseds wife. The beneficiary is the trust.
Are the proceeds of the life insurance policy
given to the co-annuitant or will the proceeds
of the policy go into the trust?

I am confused.

Usually the procceds of the life insurance policy is paid to the named beneficiary as a death benefit.

HOWEVER, if the policy had a cash value, or was an endowment that had matured, or there was a n annuity settlement option elected by th epolicyholder or beneficiary, the proceeds could be paid as an annuity.

Then the first issue is was the stream of payments to go to the annuitant solely for life (in which case they died with her)? Or a fixed period of years, and if the latter, who gets them? The person named as contingent annuitant, if any. If not, typically her estate.