Can a person sell only a portion of a policy while maintaining selected benefits for a primary beneficiary?
Yes. The seller may request an irrevocable beneficiary designation for a portion of the proceeds to be assigned to seller’s beneficiary or beneficiaries of choice. In this case, upon the death of the seller, the insurance company would pay the benefits directly to the sellers’ designated beneficiary(ies).
Related Questions
- If the primary physician does not sign a request for a beneficiary’s NEMT to obtain excluded optional benefits services, will Medi-Cal reimburse the NEMT provider?
- Can a viator sell only a portion of a policy while maintaining selected benefits for a primary beneficiary?
- If I Die Before Retiring Will my Beneficiary(ies) Receive Any Portion of My Benefits?
