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.




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  • 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