(a) Policies on life of decedent or victim.-- Insurance proceeds payable to the slayer or elder abuser as the beneficiary or assignee of any policy or certificate of insurance on the life of the decedent or victim, or as the survivor of a joint life policy, shall be paid to the estate of the decedent or victim, unless the policy or certificate designates some person not claiming through the slayer or elder abuser as alternative beneficiary to him. (b) Policies on life of slayer or elder abuser.-- If the decedent or victim is beneficiary or assignee of any policy or certificate of insurance on the life of the slayer or elder abuser, the proceeds shall be paid to the estate of the decedent or victim upon the death of the slayer or elder abuser, unless the policy names some person other than the slayer or elder abuser or his estate as alternative beneficiary, or unless the slayer or elder abuser by naming a new beneficiary or assigning the policy performs an act which would have deprived the decedent or victim of his interest in the policy if he had been living.
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