It also handles the distribution of life insurance death benefits if the beneficiary is dead or the policyholder has not named a beneficiary. (insuranceopedia.com)
Doing so opens the door for legal challenges that could result in your beneficiary or beneficiaries incurring legal fees that significantly reduce the amount they receive in life insurance death benefit proceeds. (insuranceandestates.com)
The person, people or organization that will receive life insurance death benefits if the primary beneficiary dies before the insured. (accuquote.com)