In Auburn, Maine Is A Parent The Beneficiary Of Their Child’s Life Insurance
By admin in Auburn, Maine | 0 comments
Jeff called with a question: “Is a parent the beneficiary of their child’s life insurance?
Auburn is across the Androscoggin River from Lewiston. Lake Auburn, is a summer resort. Auburn area offers many recreations opportunities for biker, hikers, anglers, hunters, bird watchers, boaters and much more.
The largest hot air balloon festival in 2006 took place in downtown Lewiston and Auburn during the middle of August.
Jeff, the primary beneficiary of a life insurance is named on the policy. Just because you are the father does not mean that you are the primary beneficiary of your Childs insurance policy.
If the primary beneficiary is deceased, then the policy should have named a contingent beneficiary, but if there are no named beneficiaries living, then the policy proceeds will become part of the policy holder’s estate. An attorney will advise you to determine guardian ship of the child’s estate.
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