Insurance
The Act may also help to resolve a life insurance case where the insured and beneficiary die in a common disaster. Different rules apply for insurance. For example, Carol has a life insurance policy through her employer. Her husband Dave is its beneficiary. They are both killed in a car crash, dying at or near the same time. If Carol has named a secondary beneficiary in her policy, that person will receive the life insurance benefit. If Carol has not named a secondary beneficiary, then it is assumed that she outlived Dave, and the benefit is inherited through Carol's estate.
Read more about this topic: Uniform Simultaneous Death Act
Famous quotes containing the word insurance:
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,—if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892–?)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)
“The Republican convention, an event with the intellectual content of a Guns’n’Roses lyric attended by every ofay insurance broker in America who owns a pair of white shoes.”
—P.J. (Patrick Jake)