Policy owners do not have to worry about records concerning who is beneficiary because life insurance companies keep watch over the records. With this in mind remember, usually there will be no concern for who is entitled to the money should someone die. Life insurance usually does not go to debt collectors. For this reason, if a debt collector tried to collect he would fail at doing so. Life insurance always goes to the beneficiary not the debt collectors.
Probate procedures come into play if the beneficiary is the estate of the deceased. From here the probate court will determine who receives the money and when. This can and usually takes up to a year.