What does Per Stirpes Rule mean? Read on to discover the definition & meaning of the term Per Stirpes Rule - to help you better understand the language used in insurance policies.
Per Stirpes Rule
Under this rule, the death proceeds of a life insurance policy are divided equally among the named beneficiaries. If a named beneficiary is deceased, his or her share then goes to the living descendants of that individual.
We hope the you have a better understanding of the meaning of Per Stirpes Rule.