Secondary Beneficiary When the primary beneficiary cannot collect possessions, the Secondary Beneficiary becomes the next one in order. If the primary beneficiary is not alive when the grantor dies...
Revocable beneficiary Revocable beneficiary designation allowing the policyholder the right to change the beneficiary without consent of the beneficiary.
Primary Beneficiary An individual or entity identified as the one in line after the death of the owner to receive property is known as a Primary Beneficiary.
Irrevocable beneficiary Irrevocable beneficiary designation allowing no change to be made in the beneficiary of an insurance policy without the beneficiary’s
Contingent Beneficiary Contingent Beneficiary of a life insurance policy is entitled to receive the policy proceeds on the insured’s death if the primary beneficiary dies before the insured...
Beneficiary Beneficiary is the seller or exporter in whose favour the documentary credit has been established.