Life Insurance No Beneficiary at Life

Life Insurance No Beneficiary. In many policies, the surviving spouse automatically receives the life insurance proceeds when no beneficiary is named at the time of the insured’s death. Life insurance proceeds that are paid to the beneficiary named in the policy have not been subject to pennsylvania inheritance tax.

As soon as the face value is in your estate, the death benefit will be taxed and used to pay your remaining debt. Who gets life insurance if there is no beneficiary? With this not being an issue, the question of what happens to the insurance.

Term Life Insurance Described Your Top Questions Answered

Final word on life insurance with no beneficiary. Can a forged beneficiary change a life insurance policy? Life insurance policies without beneficiaries often lead to beneficiary disputes and family feuds, which are one of the most common reasons life insurance companies deny claims. As a life insurance beneficiary, you do not need to claim benefits on your income taxes.