Life & Health Insurance/group life insurance

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Question
My mother died one year ago. The company she worked for cannot find her insurance application with any beneficiaries she may have listed.  She did have a will but from what I've read, the will does not necessarily determine who gets the insurance payout.  The insurance company has said it goes to spouse and if no spouse, children.
Does the will determine who gets the money or the insurance company's policies and procedures?

Answer
Firstly, my sympathies for your loss.  Though this not my area of expertise I have had a similar experience when my mother passed.  The will should have assigned an executor of her estate and that person should have standing to lay claim with the insurance carrier for the death benefit.  It would then become part of your mom's estate and that executor can distribute the assets per your mother's wishes.  I suggest you touch base with a probate attorney to determine your next course of action. Best of luck I know this can be a frustrating process so be patient.

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Sergio Franco

Expertise

Area of expertise is Senior Life Settlements and Viatical settlements. I can assist advisers in qualifying clients for these type of transactions. I can assist policyholders to determine if they are an appropriate candidate for these transactions and I can assist consumers if they are approached to invest in these type of transactions.

Experience

I am the Director of New Business for Performa Corp a boutique Life Settlement brokerage located in south Florida.

Publications
Agent Sales Journal, California Broker Magazine

Education/Credentials
AA Liberal Arts BS Finance Management 10 yrs US Army Finance Officer
Life Licensed in State of Florida

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