When Bill dies Janell receives the death benefits. If Janell dies before Bill, Cody and Steve will receive equal benefits upon Bill's death. Which of the following is true?

Question

Quizplus · Accepted Answer

Janell and Bill are primary beneficiaries for each other. The living spouse will receive payments from the deceased spouse's policy. Cody and Steve are contingent beneficiaries on both Janell and Bill's policies. Upon the death of the surviving spouse, Cody and Steve will receive any remaining payments from the first policy as well as the payments from the second policy.

When Bill Dies Janell Receives the Death Benefits