76-3424. Designated beneficiary; deemed insured party; limitations.
157 words·~1 min read·
/ne/chapter-76/76-3424A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In addition to any other coverage provided under an insurance policy on real estate transferred pursuant to a transfer on death deed, the designated beneficiary shall be deemed to be an insured party under any property insurance policy for the period from the date of the transferor's death until the first to occur of:
(1)The end of the policy period as determined as if the transferor was still living;
(2)The date the designated beneficiary obtains alternative coverage; or
(3)Thirty days after the transferor's death only if any premium required for the additional days beyond the policy period is paid.
(b)Nothing in this section shall affect coverage provided under an insurance policy to household members or others who are deemed to be insured upon the death of the transferor.
(c)The designated beneficiary shall not acquire any interest in proceeds of an insurance policy that have accrued before the death of the insured.