proceeds. This designation acts as a safeguard, ensuring that the death benefit does not go unclaimed or end up in the wrong hands. Having a contingent beneficiary is essential for effectively protecting your loved ones and ensuring your life insurance policy is distributed according to your wishes...
Naming a contingent beneficiary on your life insurance policies may be even more critical than naming one for your 401(k), IRA, or investment account, because the life insurance proceeds can be significantly greater than what you’ve saved in your retirement accounts. [To learn more about super...
A method for rewarding life insurance policy holders who satisfy requirements relating to insured individuals' wellness includes segmenting a group of insured individuals into a W group that qualifies for a wellness benefit and a S group that does not qualify for the wellness benefit. Qualification ...
aLife insurance policies also provide for "named beneficiaries." You can designate Curtis to be a primary beneficiary or a contingent beneficiary. In addition, the policy itself can also be a gift to Curtis.[translate]
Share on Facebook contingent beneficiary Financial n. a person or entity named to receive a gift under the terms of a will, trust or insurance policy, who will only receive that gift if a certain event occurs or a certain set of circumstances happen. Examples: surviving another beneficiary, ...
Let us assume that John and Jane married eight years back, and they have a son and a daughter named Mike and Silk, respectively. Recently, John and Jane got divorced. Consequently, John updated his life insurance policy to replace Jane with Silk as the primary beneficiary, while Mike remaine...
Contingent wellness benefits for life insurancedoi:WO2008063260 A2WO
You have the right to change your designation of contingent beneficiaries, except in the case of an irrevocable trust or a life insurance policy whose terms and conditions were established in a court ruling. A contingent beneficiary may also be someone who is entitled to inherit assets if he or...
CLPContingent Liability Program(insurance/reinsurance) CLPCable Labeling Project CLPCommand Logistics Program CLPCertified License Position Copyright 1988-2018AcronymFinder.com, All rights reserved. Want to thank TFD for its existence?Tell a friend about us, add a link to this page, or visitthe webma...
Multiple contingent beneficiaries may be listed on a life insurance policy or retirement account. Each beneficiary is designated a specific percentage of the money, adding up to 100%. A contingent beneficiary who inherits will receive the assets in the same manner stated for the primary beneficiary....