a person who under the circumstances then existing would become a Primary Beneficiary (in default of the exercise of any applicable unexercised power of appointment) on the death of a Primary Beneficiary who is then alive
The party who will receive insurance proceeds should the primary beneficiary die before the insured person. Also called Contingent Beneficiary .
Person (or charity) named to receive the proceeds of a life insurance policy or retirement plan should the primary beneficiary predecease.
A person designated by the policy owner to receive policy proceeds if the Primary Beneficiary is deceased at the time benefits become payable. This is often referred to as a contingent beneficiary.
The party designated to receive life insurance policy proceeds if the primary beneficiary should die before the person whose life is insured dies.
If all Primary Beneficiaries are deceased, the second-named person, estate, or trust will receive the proceeds of a retirement account upon the account owner's death.
An alternate beneficiary designated to receive payment, usually in the event the original beneficiary predeceases the insured.
The second person named to receive benefits upon the death of an insured if the primary beneficiary has already died.
The second person named to receive benefits upon the death of an insured if the first-named beneficiary is not alive or does not collect all the benefits before his or her own death. See also Contingent Beneficiary.
Also known as Contingent Beneficiary, this is a person or entity named to receive life insurance proceeds at the death of the insured only if the Primary Beneficiary is also deceased.