Secondary Beneficiary

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Dictionary Says

Definition of 'Secondary Beneficiary'

A person or entity that inherits assets under a will, trust or insurance policy if the primary beneficiary dies before the grantor. A secondary beneficiary would also be considered a "contingent beneficiary".
Investopedia Says

Investopedia explains 'Secondary Beneficiary'

A contingent beneficiary is a beneficiary who inherits assets only if certain conditions are met.  Many times, a secondary beneficiary inherits assets if the primary beneficiary dies, which is a condition to be met. However, not all contingent beneficiaries stand to inherit only if another beneficiary dies, as there may be more than one condition that must be met.
Search results for

'Secondary Beneficiary'

  • Why Your Will Should Name Designated Beneficiaries

    http://www.investopedia.com/articles/pf/07/beneficiary_form.asp
    ... The standard beneficiary form that you fill out when you open the account usually
    only requires that you name a primary and a secondary beneficiary. ...

  • Life Insurance Clauses Determine Your Coverage

    http://www.investopedia.com/articles/pf/06/lifeinsuranceclauses.asp
    ... Planning and Getting Started On Your Estate Plan.) Therefore, it is always practical
    to have a primary and a contingent (secondary) beneficiary in your policy. ...

  • Selecting And Managing Insurance Payouts

    http://www.investopedia.com/articles/pf/08/insurance-payout-selection.asp
    ... paid out. You can also name a secondary beneficiary to receive the remainder
    of the payments if you die before then. (Read more ...

  • Great Returns From Garbage Stocks

    http://stocks.investopedia.com/stock-analysis/2008/Great_Returns_From_Garbage_Stocks_EVX_SRCL_TTEK.aspx
    ... With the potential for new nuclear power plants in the near future, American
    Ecology would be a secondary beneficiary of the buildup. ...

  • Invest In Your Education With An RESP

    http://www.investopedia.com/articles/pf/07/resp.asp
    ... How RESPs Work An RESP is a tax-deferred investment account that is set up to pay
    some or all of the costs of the beneficiary's post-secondary education. ...

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

    http://www.investopedia.com/articles/pf/06/lifeinsurance.asp
    ... this case, your children will qualify for your insurance money if you nominate them
    as contingent (secondary) beneficiaries. A contingent beneficiary can get ...

  • 529 Plans: Types Of Plans | Investopedia

    http://www.investopedia.com/university/retirementplans/529plan/529plan1.asp
    ... as part of a scholarship program, the designated beneficiary is the ... any college,
    university, vocational school, or other post-secondary educational institution ...

  • Investing In Your Child's Education

    http://www.investopedia.com/articles/03/010303.asp
    ... cover the associated costs of sending kids to post-secondary institutions, there's ...
    flexibility in investment content, and, should the beneficiary not require ...

  • 529 Plans: Distributions | Investopedia

    http://www.investopedia.com/university/retirementplans/529plan/529plan4.asp
    ... Expenses required for the designated beneficiary's enrollment in and ... universities,
    vocational schools and accredited post-secondary educational institutions ...

  • Choosing The Right 529 Education Savings Plan

    http://www.investopedia.com/articles/retirement/04/072104.asp
    ... public, nonprofit and proprietary (privately owned, profit-making) post-secondary
    institutions. ... by anyone, including non-relatives, for a designated beneficiary ...

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