1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Yes, the named beneficiary in a life insurance policy  does.  It is important to coordinate each document of course, but a life insurance policy is separate and distinct.  The owner of the policy can change beneficiary designations by amendment of the contract directly with the insurance company  at any time, but once designated, it cannot be changed by other action .
    Answered on December 22, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, the beneficiary of a life insurance policy supercedes a will. The will pertains to the estate, and a life insurance beneficiary receives the proceeds of the policy outside the estate. The person named within the life insurance policy is the one who receives the benefit of that policy.
    Answered on December 26, 2013
  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A life insurance policy is a legal contract.  In California the life insurance company is legally bound to deliver the proceeds to the beneficiary in the event of death.  The proceeds of the life insurance policy are not an asset of the estate.  Therefore, the proceeds are not subject to probate, nor does the will have any impact on the process, unless the beneficiary and the contingent beneficiary have pre-deceased the insured.
    Answered on July 10, 2014
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