Paul purchased a life insurance policy on his life and named his second wife Louise as the revocable beneficiary. The amount of coverage on this policy was $1,000,000. Paul died suddenly from a heart attack, Louise files a claim and receives notice that there are other claimants. Paul's first wife has made a claim of $40,000 for child support payments as allowed by the court: Paul had fallen behind on his child support payments before he died. The notice also states that there is a collateral assignment of 560,000 to a creditor. There are also two other beneficiaries; Paul had named Louise and his two children from his first, manage as equal beneficiaries. He had done this without informing Louise. What will be the total amount that Louise will receive from Paul's policy?