A person designated to receive the benefits of a policy if the person named as a beneficiary has died before collecting or if some payout remains when the first beneficiary dies.
Related information about secondary beneficiary:
- Secondary Beneficiary Definition | Investopedia
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 ...
- What is the difference between primary and secondary beneficiaries?
Dec 6, 2010 ... Your secondary beneficiary is the individual(s), trust, charity, or other party you designate to receive your assets only if you have no surviving ...
- Why do I need primary and secondary beneficiaries?
Dec 9, 2010 ... If you do not designate a secondary beneficiary and your primary beneficiary dies before you, your assets may pass to your estate creating ...
- secondary beneficiary - Insurance Glossary
secondary beneficiary - The person named to receive benefits if the primary beneficiary is not alive upon the death of the insured or if the primary beneficiary ...
- Legal Definition of Secondary Beneficiary
The Legal Term * Secondary Beneficiary * Defined & Explained.
- Secondary Beneficiary Law & Legal Definition
A secondary beneficiary is a person or entity who inherits assets under a will, trust, or insurance policy if the primary beneficiary dies before the grantor. S/he is ...
- What is a contingent or secondary beneficiary?
The contingent or secondary beneficiary is the person or persons designated to receive the death benefit from your life insurance policy in the event that your ...
- What Are Secondary Beneficiaries? - Financial Web
A secondary beneficiary is going to receive your assets if a primary ... A secondary beneficiary is also referred to as a contingent beneficiary in some cases.