Mo. Rev. Stat. § 461.037: Property designated for a beneficiary if lost, destroyed, damaged or involuntarily converted, during owner's lifetime, effect.

In the event property subject to a beneficiary designation is lost, destroyed, damaged or involuntarily converted during the owner's lifetime, the beneficiary succeeds to any right with respect to the loss, destruction, damage or involuntary conversion which the owner would have had if the owner had survived, but has no interest in any payment or substitute property received by the owner during the owner's lifetime.