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markeetahackney25 | My aunt, cousin and I are the beneficiary on my grandfathers insurance. Can only one person receive money? |
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mousemom125
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It depends. If your aunt was the primary benficiary, then she would get the total amount. If all three of you are listed as primary beneficiaries, then the total amount would be split three ways. |
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erin_foss8191@sbcglobal.net
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No........if you all are listed as the beneficiaries...... you will all fill out paperwork, turn it in to the insurance company, then they will send you a check for your portion of the inheretance...... You all should not even have to wait for each other to fill out the paperwork......When my mother-in-law passed, she had four people listed as her beneficiaries....then money was split four ways... |
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frugernity
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The insurance company will pay the primary beneficiaries the percentages specified by the owner, if the primary beneficiaries are living. If the primary beneficiaries are all dead, the insurance company will pay the contingent beneficiaries the percentages specified by the owner.
So I could say A gets 75% and B gets 25% but if A and B are dead then C gets 90% and D and E each get 5%. |
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sirmrmagic
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NO if it is stated that all 3 of you are the beneficiary of your grandfathers insurance than there should be a break down of who gets what and how much. It may be an equal amount to all of you. |
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ricks
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No, you can have several beneficiaries. Just keep in mind that there are primary & contingent (secondary). The primary(ies) will get thier portion(s) according to the policy, assuming they are still living. If one or all of the primary are deceased, then the secondary come into play. And they receive according to the policy. |
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Dazedandconfused
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No |
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coya_coycoy04229
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no you your aunt and cusin will all split the amount given |
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mbrcatz
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No, they pay ALL of the beneficiaries, however the policy allots. Usually the policy owner assigns a percentage - like you each get 1/3, or the aunt gets 50% and the cousin & you get 25% each. |
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phillyvic
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Only if two out of the three beneficiaries pass |
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