For reasons explained in our blog, we have disassociated the 1901 and 1902 Orioles teams from the franchise history of the New York Yankees. The two-year stint in Baltimore is now considered to be that of a separate franchise.
When the one insured in a life insurance policy dies the proceeds go to the named beneficiary. If the beneficiary dies ahead of the insured, the proceeds will still be paid out. The insurance company will determine if there are primary co-beneficiaries named in the policy. If there are, the proceeds will be divided among these co-beneficiaries. When one of the co-beneficiaries dies, the remainder of the proceeds will be paid out to the surviving beneficiaries.
Beneficiary. A beneficiary is the person(s) selected by the policy owner to receive the life insurance payments upon the death of the insured. Premium. Premiums are the payments made to the insurance company to purchase and keep a policy active. death benefit is the amount paid to the beneficiary at the time of the death of the insured. Face amount. The face amount of the policy is the amount of the death benefit as stated in the policy. This does not include additional amounts that the policy may provide.