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.
Most life insurance policies do not have an âassignee.â A policy is assigned as a requirement of either a lender or someone else to which an obligation is due. When death occurs the insurance company contacts the assignee and satisfies the assigneeâs claims prior to distributing the balance to the beneficiary.