Death benefits

[sherina]

What is the name of your state?What is the name of your state? Illnois. My question is very similar to the poster that found out he is a beneficiary to some sort of insurance policy that's to be divided between 5 people and has been given little information. My Mother was recently informed that she too Is a beneficiary to a insurance policy from her dad who passed away three months ago, she had two brothers who are now deceased and one sister still living who informed her of this policy. Problem is the sister has failed to give any information about the monetary value, or the company's name (Insurance provider) from whence the policy originated. My understanding Is that she the sister doesn't know what the value of the policy Is and I find that very difficult to believe since she has had very close contact with their father and lives in the same state unlike my mom, who lives in another state. My mom was recently informed by the sister to look for claim forms in the mail. I would like to know what happens to the benefits that would have been divided between all the siblings now that two are deceased? Also the owner of the policy lived in Michigan, and my Mom lives in Illinois. Thanks for any assistance you can provide.

 

[ALawyer]

While it would be essential to see the actual beneficiary form to see IF and HOW the beneficiaries were named and what provisions may have been made for contingent beneficiaries, USUALLY (98 of 100) if the death of a named beneficiary ON A LIFE INSURANCE POLICY occurs before the death of the insured, the surviving beneficiaries share equally and there is nothing for the heirs of deceased beneficiaries-- here, instead of each child getting 20%, the 3 surviving children get 33-1/3rd% each. (With property passing by Intestate Distribution the heirs of the 2 deceased children would get the share otherwise going to the deceased sibling.)

 

[sherina]

death benefits

I just wanted to say thanks for the response to my post regarding death benefits.