Contingent beneficiary

Term · Insurance and risk management · MLC-T-INS-000929

An individual or entity designated to receive the proceeds of a life insurance policy or other financial asset if the primary beneficiary is deceased or cannot be located at the time of the insured's death. Their claim to the benefits is secondary and conditional upon the primary beneficiary's inability to receive them. Policyholders often name multiple contingent beneficiaries in order of precedence.

Table 1. Record
Identifier	MLC-T-INS-000929
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-000929",
  "term": "Contingent beneficiary",
  "field": "Insurance and risk management",
  "definition": "An individual or entity designated to receive the proceeds of a life insurance policy or other financial asset if the primary beneficiary is deceased or cannot be located at the time of the insured's death. Their claim to the benefits is secondary and conditional upon the primary beneficiary's inability to receive them. Policyholders often name multiple contingent beneficiaries in order of precedence.",
  "url": "https://mlchart.com/terminology/insurance/contingent-beneficiary/"
}

Record 729 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.