A man has a life insurance policy, naming his three children as the beneficiaries. After issuance, one of his children dies before he does, but that child remains on the policy. (policy was never changed to reflect that one of his childred is no-longer living) After the insured man's death, how will the policy be allocated. Does the surviving siblings split their dead sibling's share? Or, does the dead sibling's share go to his/her's next of kin?
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