Primary Beneficiary

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Dictionary Says

Definition of 'Primary Beneficiary'

A beneficiary in a will, trust or insurance policy that is first in line to receive named benefits. Primary beneficiaries are contrasted with contingent beneficiaries, who will only receive benefits if the primary beneficiary has died. There can be more than one primary beneficiary.
Investopedia Says

Investopedia explains 'Primary Beneficiary'

For example, an IRA can name a spouse as the primary beneficiary, while the same person's will may name the children as primary beneficiaries. The spouse will receive the proceeds of the IRA and the children will receive the assets for which they are named primary beneficiaries in the will. By definition, a sole beneficiary is a primary beneficiary.
Search results for

'Primary Beneficiary'

  • If a trust is named as the beneficiary of an IRA, can the trustee ...

    http://www.investopedia.com/ask/answers/06/changebeneficiary.asp
    ... If the disclaimer is qualified, the assets will generally pass to the other
    primary beneficiary. If there is no other primary beneficiary ...

  • An Estate Planning Must: Update Your Beneficiaries

    http://www.investopedia.com/articles/retirement/03/031803.asp
    ... if" situations. For instance, what if your primary beneficiary predeceases
    you and you fail to update the designation? What if the ...

  • Can an IRA owner disclaim his widow's account but exclude one ...

    http://www.investopedia.com/ask/answers/06/excludespendthrift.asp
    From your question, it appears that the widow is the sole primary beneficiary, in
    which case any portion properly disclaimed by the widow to be passed. ...

  • An Estate Planning Must: Update Your Beneficiaries

    http://www.investopedia.com/articles/retirement/03/031803.asp?partner=aol-d
    ... if" situations. For instance, what if your primary beneficiary predeceases
    you and you fail to update the designation? What if the ...

  • Intro To Insurance: Life Insurance Considerations | Investopedia

    http://www.investopedia.com/university/insurance/insurance9.asp
    ... The primary beneficiary is the person (or entity) who is first entitled to the death
    proceeds. Of course, more than one primary beneficiary can be named. ...

  • The Tax Benefits Of Having A Spouse

    http://www.investopedia.com/articles/retirement/06/marriedperks.asp
    ... in certain cases, if the account owner is married, his or her spouse must consent
    to the designation if the spouse is not the sole primary beneficiary of the ...

  • Refusing An Inheritance

    http://www.investopedia.com/articles/06/RefuseInheritance.asp
    ... If the primary beneficiary does not follow these requirements, the property in question
    will be considered a personal asset that he or she has given as a ...

  • Life Insurance: How To Get the Most Out Of Your Policy

    http://www.investopedia.com/articles/pf/06/lifeinsurance.asp
    ... A contingent beneficiary can get life insurance proceeds if the primary
    beneficiary dies before he or she can receive the assets. ...

  • Distribution Rules For Inherited Retirement Plan Assets

    http://www.investopedia.com/articles/retirement/03/111903.asp
    ... Spouse as Sole Primary Beneficiary A spouse who is the sole primary beneficiary
    of the retirement account may distribute the assets over his or her life ...

  • An Overview Of Retirement Plan RMDs

    http://www.investopedia.com/articles/retirement/02/121002.asp
    ... table ll is used by a retirement account owner who has designated a spouse who is
    more than 10 years his or her junior as the sole primary beneficiary of the ...

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