My husband's grandfather passed away last December. His grandfather was a widower and a father of 4 kids. Two of his children, have passed, one being my husband's father. The other child who passed did not have any children or spouse. So my husband has an aunt and uncle who were the last two remaining children of his grandfather and they both are married with their own kids. Hopefully this isn't too confusing.
The insurance letter we received basically said that the life insurance policy for his grandfather did not have any beneficiaries listed. They received notice of the passing and needed to reach out in order to appropriately distribute the claim. My husband and I are young and really know nothing about this process.
Since my husband's dad has passed, is my husband now considered a "child"? Do all of the grandchildren get some of the money in the policy? Can the insurance company deny paying my husband for some reason? Is there anyway for us to find out how much money there is?
We hate the idea of "taking" the money from his grandfather. However, money has been tight in this economy and we have been praying for some sort of relief. I can't help but think this is an answered prayer. But I also know that some life insurance policies are small and only cover funeral costs, so the split could be small. Again, we HATE to "benefit" off of his passing, but he lived a long and happy life and we just can't help but see the potential blessing.
My husband got a life insurance claim for his late grandfather, what can we expect?
byu/angel1813 inInsurance
Posted by angel1813
3 Comments
You aren’t taking anything. Grandpa bought it for this reason. As to how much or how it’s distributed that just depends on the policy and how the beneficiaries were set up. No one here can answer that.
You’ll probably hear the phrase “per stirpes” a few times.
https://trustandwill.com/learn/per-stirpes-definition this may help.
There’s a way these the are paid out.
I’d there are no beneficiary listed on the policy, it will go to the deceaseds estate.
From there, it would be paid out in the ordered dictates by the state.
I’m about 99% positive that his two remaining children of your grandfather will get the money. Before any grandchildren.
When my grandmother died, she had two deceased children and two living children.
When the house was sold and the estate was split – everything was split between the four children equally. Since two of the children were deceased, their shares went to their estates, which was split according to that person’s estate.
Her will hadn’t been changed after her children passed, so that’s why it went that way.
You’re not taking money from anybody, if anything, consider this a blessing like you said. It can be really frustrating and confusing for everybody involved.