What does Primary Beneficiary mean? Read on to discover the definition & meaning of the term Primary Beneficiary - to help you better understand the language used in insurance policies.
The beneficiary named as being first to receive proceeds or benefits when they come due or are payable. If the primary beneficiary is not living at the time the proceeds are payable, the benefits are paid to the secondary beneficiary.
We hope the you have a better understanding of the meaning of Primary Beneficiary.