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A beneficiary means one who benefits from something. The benefit may come from an estate, trust, annuity, insurance policy or some similar source.
Where there is a will there is a relative. Let us say a rich Uncle likes one of his relatives he will make out his will so that when the Uncle dies the relative he likes will get his money and benefit by it. Thereby that relative becomes a "BENEFCIARY" (Beneficiary)
What else can I help you with?
What does annuitized mean?
It is the beneficiary of an annuity.
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 it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
What is farmer beneficiary mean or who is the farmer benificiary?
farmer's lung
What does beneficiary name mean?
It means that the land of chicken is on fire
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 irrevocable beneficiary mean?
An irrevocable beneficiary is someone named in a life insurance policy or retirement account who cannot be removed or changed without their consent. This designation provides the beneficiary with guaranteed rights to any proceeds from the policy or account once the policyholder passes away. The policyholder cannot modify the beneficiary designation unilaterally once it is established as irrevocable.
What doesContingent Beneficiary mean?
A contingent beneficiary is an individual or entity designated to receive benefits from a policy, trust, or estate only if the primary beneficiary is unable to do so, typically due to death or incapacity. This designation provides an additional layer of security in estate planning, ensuring that assets are distributed according to the policyholder's wishes even if the primary beneficiary cannot inherit. If the primary beneficiary is alive and able to receive the benefits, the contingent beneficiary will not receive anything.
What does beneficiary mean for health insurance?
Some health insurance plans offer a AD&D Life Insurance Policy. That is why you would name a beneficiary for a health insurance company.
What does general allocation percentage mean to a beneficiary?
Depending on the jurisdiction, if we're talking wills, it most likely means the share of an estate going to each beneficiary in a class of beneficiaries.
What is the possessive form of beneficiary?
The possessive form for the noun beneficiary is beneficiary's.
where is infomation on beneficiary?
where is infomation on beneficiary
