Mary and Philip are married. Philip named Mary as the primary beneficiary of his life insurance policy. His children from a prior marriage are contingent beneficiaries. Under the Uniform Simultaneous Death Act, who will receive the death benefit if Mary and Philip are in a car accident and there is no evidence of who died first?

Question

Social Studies

Greene

22 April, 21:59

Mary and Philip are married. Philip named Mary as the primary beneficiary of his life insurance policy. His children from a prior marriage are contingent beneficiaries. Under the Uniform Simultaneous Death Act, who will receive the death benefit if Mary and Philip are in a car accident and there is no evidence of who died first?

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Answers (2)

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Perkins · Answer 1

Philip's children from his prior marriage

Explanation:

Philip's children from his prior marriage will receive the benefit because his children from the previous marriage are contingent beneficiaries meaning Philip children are allowed to receive the benefit in a case where the primary beneficiary who is Mary Can't receive it because she and the owner of the account which is Philip die together in an accident making the children from Philip prior marriage to be next in line to be the beneficial of the life insurance policy.

Kaden Pace · Answer 2

Philip's children from his prior marriage

Explanation:

The act states that if two or more people died at the same time due to an accident within a period of 120-hour, with no will, their assets are to be passed to the relatives rather than from one estate to another