secondary beneficiary

secondary beneficiary
secondary beneficiary UK US noun [C] LAW
CONTINGENT BENEFICIARY(Cf. ↑contingent beneficiary)

Financial and business terms. 2012.

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  • secondary beneficiary — see beneficiary b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Secondary 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… …   Investment dictionary

  • secondary beneficiary — second person eligible to receive insurance payouts or money from a trust fund in the event that the primary beneficiary cannot receive them …   English contemporary dictionary

  • beneficiary — ben·e·fi·cia·ry /ˌbe nə fi shē ˌer ē, fi shə rē/ n pl ries: a person or entity (as a charity or estate) that receives a benefit from something: as a: the person or entity named or otherwise entitled to receive the principal or income or both from …   Law dictionary

  • secondary — In English practice, an officer of the courts of king s bench and common pleas; so called because he was second or next to the chief officer. In the king s bench he was called Master of the King s Bench Office, and was a deputy of the… …   Black's law dictionary

  • Beneficiary — Ben e*fi ci*a*ry, a. [Cf. F. b[ e]n[ e]ficiaire, LL. beneficiarius.] 1. Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession. [1913 Webster] …   The Collaborative International Dictionary of English

  • Beneficiary 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… …   Investment dictionary

  • contingent 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 …   Financial and business terms

  • contingent 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… …   Useful english dictionary

  • alternate 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… …   Law dictionary

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