0
What do the word mean Primary and Contingent allocations in insurance?
Wiki User
∙ 14y ago
It has to do with someones benefits for beneficiaries for life insurance, 401k, etc. Primary would be the person who is your first choice to receive the benefit's. Contingent would be the person who receives the benefits if the primary person is dead.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
When talking in life insurance what does contengent mean?
In regards to life insurance, contingent usually means secondary. For example a contingent beneficiary is a secondary beneficiary, not the primary beneficiary. The contingent beneficiary would receive the proceeds from a life insurance policy if the primary beneficiary were not alive when the insured person dies.
What does contingent on a will mean?
what does a contingent mean on a bank statement.
My husband is a rider on my life insurance policy if he dies before me what do I do?
I don't understand what you mean by ''he is a rider'', do you mean he is the named beneficiary? If so and he dies prior to you, you need to name another beneficiary, or perhaps you already have a 'second' or contingent beneficiary, in that case the money would be paid to this contengient if the primary beneficary is deceased.
What does primary and non contributing really mean in regards to general liability insurance coverage?
It means that whoever states their insurance is Primary, it's really Primary regardless of who is at fault. For example, the subcontractors insurance is usually primary over the GCs insurance. This means that if the sub has a claim and in all reality it's the GC's fault, but the sub listed their insurance as primary, then the subs insurance is paying first no matter what. Primary means just that, the insurance listed is PRIMARY, regardless of fault. www.mac2insure.com
Give me a sentence with ''contingent''in it?
(As an adjective, contingent can mean possible, accidental, or dependent. As a noun, contingent can mean part of a larger group or a quota.)(adjective) Your salary will be contingent on your performance as a supervisor.(noun) A contingent of troops arrived at the disaster site with medical supplies.
What does the word payer mean in terms of health insurance?
The primary /secondary payer is usually the insurance plan covering the claim
What does contingent PS mean?
Pending Sale
What does coinsurance mean in medical insurance's?
It's secondary or tertiary insurance that is held to cover any medical expenses the primary insurance policy does not cover or does not cover completely.
Would Medicare be your primary or secondary insurance?
We have Medicare and added on Anthem. Does that mean Medicare is primary (Paying 80 percent) , and Anthem is secondary?
What are the rules regarding having dual health insurance after retirement?
assuming you mean at age 65 or beyond, medicare becomes the primary insurance, and your other insurance becomes a medicare supplement.
What is the primary objective of an insurance agent?
The primary objective of an insurance agent is to recommend the best insurance coverage at a fair price for the customer. This may mean less income for the insurance agent, but in the long run a good way to build trust and therefore gain more customers and retain the ones an agent already has.
What does mean by marine insurance?
what does mean marine insurance
