[Law] BENEFICIARY, PRIMARY - A will maker's first choice to receive a bequest, or a person's first choice of who should receive the proceeds from a life insurance policy.

Noun: beneficiary    `benu'fishee`eree [N. Amer], `benu'fishuree [Brit] The recipient of funds or other benefits - donee   The semantic role of the intended recipie...

[Law] BENEFICIARY, SECONDARY - A will maker's second choice to receive a bequest. A secondary beneficiary receives the bequest only if the primary beneficiary dies before the will maker. I...

Noun: co-beneficiary One of two or more beneficiaries of the same benefit Derived forms: co-beneficiaries Type of: beneficiary , donee

[Finance] 1. A beneficiary specified by an insurance contract holder who will receive the benefits if the primary beneficiary has died at the time the benefit is to be paid.

[Finance] One who receives income from a trust.

[Finance] A beneficiary in a life insurance policy or segregated fund contract whose compensation cannot be changed without his or her consent.

[Finance] The ability of a policy owner either to change who will receive the compensation from his or her policy or to terminate the policy without having to get consent from the current ...

[Law] A will maker's second choice to receive a bequest. A secondary beneficiary receives the bequest only if the primary beneficiary dies before the will maker. It is also a person's seco...

Adjective: primary    prImeree [N. Amer], prImuree [Brit] Of first rank or importance or value; direct and immediate rather than secondary "primary goals"; &qu...