beneficiary

[wayne-o]

What is the name of your state? TN A dear friend of mine just passed away and I have discovered that I was the beneficiary on his cash-out retirement account. I have a feeling I might also be listed as the beneficiary on his life insurance. Is there a way to find out? Both the retirement and life insurance were provided by his place of employment (large company).

 

[Betty]

What is the name of your state? TN A dear friend of mine just passed away and I have discovered that I was the beneficiary on his cash-out retirement account. I have a feeling I might also be listed as the beneficiary on his life insurance. Is there a way to find out? Both the retirement and life insurance were provided by his place of employment (large company).

Since this is ins. through his employment, contact the benefits dept. of the employer & see if they can/will tell you anything. Do you know the name of the ins. co. the insurance was issued with?

 

[wayne-o]

yes....it was METLIFE I have spoken with them and started the process as his family asked me to do. Im just not sure how to handle it when they find out I might be the beneficiary. The Met-Life people just asked me about was he married, next of kin and mailing addresses. I had no idea at the time that I could possibly be the beneficiary so I did not ask. The company referred me to Met-Life and asked me to send the appropriate company docs to the HR dept noting his passing.

 

[Betty]

If you are the named beneficiary, the life ins. proceeds will be payable to you as the named bene to do with as you wish. If you are not the named bene, the proceeds will go to the bene(s) so named. If there is no named bene(s), the ins. proceeds may be distributed as per policy provisions to the next of kin. If there is no bene(s) & nothing in the ins. contract indicates payment should be made to next of kin, the proceeds should go to the deceased's estate for distribution.