Primary Beneficiary

Definition of "Primary beneficiary"

Cindy Kennedy real estate agent
Cindy Kennedy, Real Estate Agent Baird & Warner Algonquin

  1. The person to receive the benefits of a trust when distribution occurs. Secondary beneficiaries may be nominated if the primary beneficiary predeceased the trust distribution.
  2. The person identified as the major beneficiary of an insurance policy. Secondary beneficiaries may also be nominated if the primary beneficiary dies before the policyholder.

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