Question

When an insured dies who has first claim to the death proceeds of the insured life insurance policy?

The query is from Insurance topic

The question was asked in a mock interview.

Other related questions to my question are:

When an insured dies who has first claim?

What happens when the insured person dies?

What happens to life insurance if beneficiary dies first?

Answer 1

Correct answer is: Two “levels” of beneficiaries Your life insurance policy should have both “primary” and “contingent” beneficiaries. The primary beneficiary gets the death benefits if he or she can be found after your death. Contingent beneficiaries get the death benefits if the primary beneficiary can't be found.

The title of my answer is What is a beneficiary? | III

The reference of my answer is Insurance Information Institute