Contingent Beneficiary definition

Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

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Contingent Beneficiary means the person(s) who will receive the Benefits if the primary beneficiary is not living at the time of the Executive’s death.

Contingent Beneficiary. The Contingent Beneficiary will become the Beneficiary if the named Beneficiary dies prior to the date of the death of the Insured. The Contingent Beneficiary is named in the application, unless changed.

Examples of Contingent Beneficiary in a sentence

• If the primary Beneficiary dies before the Owner, the death proceeds are paid to the Contingent Beneficiary, if any.

• If before payment of any death benefit proceeds, we receive proper notice that the trust has been revoked or is not in effect, then any death benefit proceeds payable will be paid to the Contingent Beneficiary, if living; if not to the Owner’s estate.

• A Contingent Beneficiary has no rights unless the Contingent Beneficiary survives all Primary Beneficiaries who would have been entitled to receive payments under the Contract had they survived.

• An individual or charity can be named as a Successor Beneficiary and/or Contingent Beneficiary.

• If the Primary Beneficiary dies prior to the Owner, the Contingent Beneficiary becomes the Primary Beneficiary.

More Definitions of Contingent Beneficiary

Contingent Beneficiary means a designated beneficiary with the right to receive any benefit or

Contingent Beneficiary means the person, persons, or trust duly designated by the Participant to receive any death benefit from the Plan in the event the designated Beneficiary does not survive the Participant.

Contingent Beneficiary refers to a person so designated on the Beneficiary Designation form who becomes entitled to receive the Account Proceeds upon the death of the Account Holder as a result of the failure of a Primary Beneficiary to survive the Account Holder.

Contingent Beneficiary means a designated beneficiary with the right to receive any benefit or refund of accumulated contributions payable if there is no eligible primary beneficiary.

Contingent Beneficiary means a person designated in a

Contingent Beneficiary. The new Beneficiary upon the current Beneficiary's death. CONTRACT DATE. The later of the date on which payments are first received and the date the properly completed application is received by us at our Office.

Contingent Beneficiary. The person(s) or entity you name to receive death proceeds if no Beneficiary is living. This person(s) or entity will not receive the death proceeds if there is any Owner alive or in existence on the date of death. Contract - This flexible purchase payment variable deferred annuity contract with any attached riders and endorsements. Contract Date - The date the Contract is issued and becomes effective. The Contract Date is shown on the Contract Data Pages. It is used to determine Contract years and anniversaries. Contract Value - The amount equal to the sum of all values allocated to each Investment Option.