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Question 8 of 14 in Naming Beneficiaries |
My sister and I were listed by my deceased father as beneficiaries. The insurance company paid the proceeds to my sister because she was listed first. Is this right? |
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If you were both listed as primary beneficiaries you and your sister should have shared the proceeds. Unless some other allocation was specified in the beneficiary designation, you should have each received 50%.
On the other hand, if your sister was listed as primary beneficiary, and you as contingent beneficiary, the company was correct to pay the money to her. |
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