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.
Primary vs. Contingent Beneficiaries. When you establish a beneficiary for your life insurance benefit, you will be asked for the names and social security numbers of the people you wish to receive the policy proceeds. The first name is the primary (main) beneficiary.The second name will be the contingent or secondary beneficiary. According to Life Insurance Hub, a primary beneficiary is the person or persons first in line to receive your life insurance proceeds when you die.Single applicants typically list a parent, sibling or both.ccording to Life Insurance Hub, a primary beneficiary is the person or persons first in line to receive your life insurance proceeds when you die.