primary beneficiary
11Beneficiary Clause — A beneficiary clause is a provision in a life insurance policy or other investment vehicle such as an annuity or IRA that permits the policy owner to name individuals as primary and secondary beneficiaries. The policy owner typically may change… …
12Secondary Beneficiary — A person or entity that inherits assets under a will, trust or insurance policy if the primary beneficiary dies before the grantor. A secondary beneficiary would also be considered a contingent beneficiary . A contingent beneficiary is a… …
13Contingent Beneficiary — 1. A beneficiary specified by an insurance contract holder who will receive the benefits if the primary beneficiary has died at the time the benefit is to be paid. 2. A beneficiary who is only entitled to insurance proceeds if predetermined… …
14contingent beneficiary — noun : a secondary beneficiary under a life insurance policy whose rights mature if the primary beneficiary predeceases the insured or dies before payment of proceeds is completed * * * Insurance. a person who becomes the beneficiary if the… …
15contingent beneficiary — Person who may or will benefit if primary beneficiary dies or otherwise loses rights as beneficiary; e.g. person who will receive life insurance if primary beneficiary dies before insured …
16contingent beneficiary — Person who may or will benefit if primary beneficiary dies or otherwise loses rights as beneficiary; e.g. person who will receive life insurance if primary beneficiary dies before insured …
17alternate beneficiary — A person, organization, or institution that receives property through a will, trust, or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet… …
18Alternate Beneficiary — In a will, an alternate beneficiary is usually named in case a person who is the named beneficiary refuses or disclaims the inheritance. In an insurance policy, an alternate beneficiary is usually a secondary or contingent beneficiary who… …
19contingent beneficiary — UK US noun [C] (plural contingent beneficiaries) (also secondary beneficiary) ► LAW, INSURANCE a person, organization, etc. who will receive the money from an insurance policy or a will if the first person named in the document cannot or does not …
20contingent beneficiary — Insurance. a person who becomes the beneficiary if the primary beneficiary dies or is otherwise disqualified. * * * …
