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16 June 2011

Life insurance policy with no nomination, who is it paid to

My boyfriends brother recently passed away unexpectedly and we knew that there was a life insurance policy and a pension. He was unmarried and my boyfriend expected something to pass to him. We discovered that he had written a will in 2004 leaving his estate to his then girlfriend, who split from within a year of the will being written. My boyfriend contacted the relevent pension provider informing them of his brothers death and we discovered that his life insurance policy was blank, he hadn't nominated anyone. We have found out this week that the life insurance is being paid out to the benefactor of the will. His own brother, his closet next of kin, gets nothing. Is this correct? We were under the impression that pension companies had their own power of descression to decide if they should pay out and to who.

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