[andtrip]

My mother did not name beneficiaries on her lifr insurance policy. Can my sister, as my mom's legal representative designate the beneficiaries.

[ScottGem]

If she has POA she can.

[excon]

Hello and:

I'm not a big consumer of life insurance, so I'm no expert. However, I've never heard of a life insurance policy with NO beneficiary's.

What would have happened to the money if you or your sister weren't around?? The insurance company get's to keep it?? No, I don't think it works that way.

Maybe ScottGem can clue me in.

excon

[ScottGem]

Actually I had the same reaction that excon did. When you apply for a policy you have to indicate beneficiaries. Now maybe the beneficiary has already died, in which case you can name a new one.

[K_2]

In some cases, if there is no beneficiaries listed or the person/people listed are no longer living the insurance proceeds is paid to the estate of the insured.

Call up the insurance company and ask what their policy is about adding beneficiaries after the insured's death and/or what happens if an insured person passes and there is no beneficiaries listed or the ones listed are already deceased.

[JudyKayTee]

You can designate the estate as the beneficiary instead of naming names.

Only the OWNER of the policy - in some cases - can change the beneficiary; with some companies the POA is not sufficient.

[s_cianci]

Probably. But how would your mother have not named a beneficiary at the time she purchased the policy? Without a beneficiary the insurance company literally doesn't know who to pay the benefits to upon your mother's demise.

[JudyKayTee]

Probably. But how would your mother have not named a beneficiary at the time she purchased the policy? Without a beneficiary the insurance company literally doesn't know who to pay the benefits to upon your mother's demise.

The mother possibly listed her estate as the beneficiary so she didn't have to change beneficiaries as circumstances changed - I'm more interested in who owns the policy.

[andtrip]

Your answer is correct. The insurance company said there were not beneficiaries listed at this time. They will go back and check the application form, as this was 1964.