Well that is an interesting answer and I thank u for response.May I ask though how certain u are of this?Appreciate your responseIn this instance the policy premiums were paid by the husband. In that instance the policy proceeds do not fall into the estate of his wife as he is the owner of the policy and will be entitled to the full proceeds. The owner of the policy is not the deceased but the payer of the premiums.
Well thank all for replies.The husband was the proposer and paid all premiums so this makes sense.If the husband was the "proposer" on the application he is the beneficiary of the proceeds of the policy, it doesn't depend on who paid the premiums. I'm nearly certain that the policy payout would not have been issued to the husband if he wasn't the proposer, so it wouldn't go into his late wifes' estate.
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