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contingent beneficiary |
Also found in: Financial | 0.03 sec. |
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contingent beneficiary n. a person or entity named to receive a gift under the terms of a will, trust or insurance policy, who will only receive that gift if a certain event occurs or a certain set of circumstances happen. Examples: surviving another beneficiary, still being married to the same spouse, having completed college, or being certified as having shaken his/her drug habit. (See: contingent, contingent interest) Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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