Every person making application for compensation as herein provided shall set forth in his or her application the names and addresses of all persons who under this act would be entitled to receive the same in the event of the death of the applicant, and if such applicant shall die before the payment of such compensation, then such application shall be deemed to inure to the benefit of the person or persons next entitled thereto, and payment shall be made to such person or persons upon proof of identity satisfactory to the Adjutant General. If all persons, designated herein as entitled to compensation, shall die before payment thereof, the right to the compensation shall cease and determine. Application for compensation made in behalf of minor children shall be made by the duly appointed guardian of such children, or by any person who stands in loco parentis to such minor children, and payments shall be made to such guardians or persons.