Contingent beneficiary

Contingent beneficiary

A contingent beneficiary on a will or insurance contract is a person who receives the benefits only if predetermined conditions have been met. Until that time, the property interest is regarded as a contingent interest.

In the context of an insurance policy, the condition is generally the death of the insurance contract holder, who is regarded as the primary beneficiary.




Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • contingent beneficiary — see beneficiary a, b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. contingent beneficiary n. Someone who w …   Law 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 — 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… …   Investment dictionary

  • contingent beneficiary — beneficiary whose right to receive benefits will only start if a particular event takes place in the future …   English contemporary dictionary

  • 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

  • contingent 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 …   Black's law dictionary

  • contingent 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 …   Black's law dictionary

  • contingent beneficiary — Insurance. a person who becomes the beneficiary if the primary beneficiary dies or is otherwise disqualified. * * * …   Universalium

  • 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

  • contingent — con·tin·gent /kən tin jənt/ adj 1: likely but not certain to happen compare executory 2: intended for use in circumstances not completely foreseen a contingent fund 3: dependent on or conditioned by something else …   Law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”