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A beneficiary means one who benefits from something. The benefit may come from an estate, trust, annuity, insurance policy or some similar source.
Where there is a will there is a relative. Let us say a rich Uncle likes one of his relatives he will make out his will so that when the Uncle dies the relative he likes will get his money and benefit by it. Thereby that relative becomes a "BENEFCIARY" (Beneficiary)
Wiki User
∙ 13y ago
Wiki User
∙ 15y agoWhen writing a will, a beneficiary is simply a person who benefits under the will of a person, it could be a spouse, any family member or anybody else
Wiki User
∙ 12y agoNo because the person who drew the will and is a beneficiary my not be truthful in how the will was formatted. They may have an interest to falsify the will for personal gain.
Wiki User
∙ 10y agoBeneficiary is the person who will benefit from the will. Most of the time they are family that inherits.
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What does irrevocable beneficiary mean?
It means that if you want to change the beneficiary, the beneficiary themselves must sign off on it.
What does annuitized mean?
It is the beneficiary of an annuity.
When talking in life insurance what does contengent mean?
In regards to life insurance, contingent usually means secondary. For example a contingent beneficiary is a secondary beneficiary, not the primary beneficiary. The contingent beneficiary would receive the proceeds from a life insurance policy if the primary beneficiary were not alive when the insured person dies.
What does it mean when the beneficiary of a life insurance policy is the employer but there's a surviving spouse who is not listed as a beneficiary?
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.
What is farmer beneficiary mean or who is the farmer benificiary?
farmer's lung
What does beneficiary name mean?
It means that the land of chicken is on fire
What do they mean by Select the beneficiary horse?
to select thing mean put it order or to save it
My husband is a rider on my life insurance policy if he dies before me what do I do?
I don't understand what you mean by ''he is a rider'', do you mean he is the named beneficiary? If so and he dies prior to you, you need to name another beneficiary, or perhaps you already have a 'second' or contingent beneficiary, in that case the money would be paid to this contengient if the primary beneficary is deceased.
What is the possessive form of beneficiary?
The possessive form for the noun beneficiary is beneficiary's.
What does general allocation percentage mean to a beneficiary?
Depending on the jurisdiction, if we're talking wills, it most likely means the share of an estate going to each beneficiary in a class of beneficiaries.
What does beneficiary mean for health insurance?
Some health insurance plans offer a AD&D Life Insurance Policy. That is why you would name a beneficiary for a health insurance company.
where is infomation on beneficiary?
where is infomation on beneficiary
