Heirs of saving and investment life insurance programs can be indicated directly in the insurance contract with or without a share.
In this case, regardless of presence or absence of a will, these funds are not included in the general inheritance and not divided between heirs not specified in the contract. An important point is the time period for the heirs to receive the amount to be paid.
For capitals over $1 million, it is more expedient to use private placement life insurance (PPLI) policies, the parameters of which are adjusted at the policyholder request.
Under the policy terms, the risk of death of a certain individual is insured (the policy owner and the insured person may not be the same) in a licensed insurance company. The property (cash or liquid assets, as well as business and even real estate) is brought in as a bonus.
If the death of the insured is related to an offense, the insurer may additionally ask for documents from the judicial investigation authorities.
Photos are from open sources.