An individual who is named on a will, trust, insurance policy or IRA to be the recipient of money or properties. For example, in the case of life insurance, the named beneficiary is the person who payments will be made to upon the death of the benefactor (the insurance policy holder).
Related information about named beneficiary:
- Named Beneficiary Definition | Investopedia
This term refers to any beneficiary named in a will, a trust, an insurance policy, pension plan accounts, IRAs, or any other instrument, to whom benefits are paid.
- IMPORTANT INFORMATION ABOUT BENEFICIARY DESIGNATIONS
If there is no named beneficiary, or the named beneficiary predeceased the insured, settlement will be made in accordance with the terms of your Group Contract ...
- What happens when no one is named beneficiary on life insurance ...
If no one is named as beneficiary on a policy than the death proceeds would go to the insureds estate and would be subject to taxation and probate. A very ...
- Bad Beneficiary Designations Can Undo Good Estate Planning
The policy owner has the right to name a beneficiary of the policy. When the owner dies, the provider must pay benefits to the named beneficiary according to the ...
- What is named beneficiary? definition and meaning
Definition of named beneficiary: An individual who is named on a will, trust, insurance ... For example, in the case of life insurance, the named beneficiary is the ...
- Insurance Planning: Who Should Be the Beneficiary and Owner?
Problems can arise with this simple beneficiary designation if the named beneficiary predeceases the insured. If no contingent beneficiary is named, the ...
- What Happens if the Beneficiary of a Life Insurance Policy is ...
If a named beneficiary passes on, then the policy information should be updated immediately to avoid any inconveniences. It's possible for the policyholder to ...
- Beneficiary Designations - MNDCPLAN
If you do not name a beneficiary or no named beneficiary(ies) survive you, your. MNDCP account automatically defaults to your current spouse as your sole ...