Question

An insured and the beneficiary are both killed in a fatal accident. Which provision presumes the insured survived the beneficiary?

Answer 1

The provision that presumes the insured survived the beneficiary in the event of a fatal accident is called the Uniform Simultaneous Death Act (USDA). It determines the distribution of assets and benefits.

Step-by-step explanation:

The provision that presumes the insured survived the beneficiary in the event of a fatal accident is called the Uniform Simultaneous Death Act (USDA). This provision assumes that the insured outlived the beneficiary, which is important in determining the distribution of assets and benefits.

For example, if a husband and wife both had life insurance policies naming each other as beneficiaries, but they tragically died in the same accident, the USDA provision would establish that the insured (the husband) survived the beneficiary (the wife), and therefore, the husband's estate would receive the insurance proceeds.