Quora Answer: Is Life Insurance Part of a Person’s Estate?

The following is my answer to a Quora question: “Is life insurance part of a person’s estate?”

That really depends.  If, as it should, the policy is nominated, the insurer pays outs the claim direct to the beneficiaries.  The monies do not come under the estate, and the jurisdiction of the executer.  The executer might not even be aware of the amounts.

If, as it often happens, the policy is not nominated, or the nominated beneficiaries have predeceased the life insured, the monies become part of the estate, to be distributed according to the will, or intestate laws.