If the primary beneficiary on the contract dies before the Owner, who is entitled to receive the proceeds?
In most instances, if the designated beneficiary does not survive the Owner, then the proceeds become payable to the contingent beneficiary. If there is no surviving contingent beneficiary, then proceeds become payable to the surviving spouse, if no surviving spouse then children, if no surviving children then the Owner’s Estate. You should refer to your contract’s death benefit section for specific details. If the designated beneficiary survives the Owner, but passes before a claim is made, the proceeds will go to the designated beneficiary’s Estate. Please contact the EQUI-VEST sm Customer Service Center at (800) 628-6673 for further information.
Related Questions
- What if I believe I am entitled to the proceeds of a Policy, but the policyholder, beneficiary and insured were not Victims or Targets of Nazi Persecution?
- If the primary beneficiary on the contract dies before the Owner, who is entitled to receive the proceeds?
- What is an Assignment of Beneficiary Contract?
