What is a contingent beneficiary?
Life insurance policyholders can choose to name more than one person to receive a benefit. Primary beneficiaries are first in line to receive benefits. Secondary beneficiaries only receive a benefit if no primary beneficiaries are alive when the benefit is paid.
Was your question answered? Yes
Other Similar Questions
If a beneficiary named in a will is different from the beneficiary named in the life insurance policy, who will the insurance company pay?
What amount of life insurance coverage benefits is available if a loved one dies?
You say that you only get paid if my case wins? How do contingency fees actually work?
Ask Share Lawyers
This searchable database contains information about disability, critical illness and life insurance claims, and what you can do if you are denied or cut
off of your benefits. It is a collection of the most common questions we receive from our clients. General answers have been provided by our lawyers.