Search results
Results From The WOW.Com Content Network
A contingent beneficiary is someone who benefits from a contingent contract; they profit from a promise, which may or may be fulfilled, to do or abstain from doing a ...
A contingent beneficiary, often called a secondary beneficiary, is a backup to your primary beneficiary in your life insurance policy. The contingent beneficiary comes into play only when the ...
Beneficiary definition in finance. ... A contingent beneficiary receives a benefit if one or more of the primary beneficiaries is unable to collect (perhaps because of death). In the event that a ...
A beneficiary is a person or entity you designate to receive the benefits of a particular account or policy after your death. ... you are likely to be asked to name one or more contingent ...
Contingent beneficiary: If the primary beneficiary predeceases the contract owner, the contingent beneficiary becomes the designated beneficiary. If a contingent beneficiary is not named, the default provision in the contract or custodian-agreement applies. Death: For retirement plan assets, at the account owner's death, the primary beneficiary ...
In trust law, a beneficiary (also known by the Law French terms cestui que use and cestui que trust), is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person , but it is perfectly possible to have a company as the beneficiary of a trust, and this often happens in ...
Contingent beneficiaries: These are the backup beneficiaries. If the primary beneficiary is no longer alive or unable to receive the money, the contingent beneficiary steps in to receive the payout.
A contingent remainder is created when a remainder cannot fully vest at the time of granting. This normally occurs in two situations: This normally occurs in two situations: when the property can't vest because the beneficiary is unknown (for example, if the beneficiary is a class subject to open), or