Tertiary beneficiary

Tertiary beneficiary,

Definition of Tertiary beneficiary:

  1. A person designated as the beneficiary who will receive the proceeds of a policy should both the primary and secondary beneficiaries be deceased at the time the policy pays out.

How to use Tertiary beneficiary in a sentence?

  1. The tertiary beneficiary was never named so it was demonstrated by this action that the people involved are not preparing for a worst case scenario.
  2. Though the policy provides that my wife is the primary beneficiary it also provides that my daughters and grandchildren on secondary and tertiary beneficiary respectively.
  3. If I die without a will, my sister will be the tertiary beneficiary of my estate, after my husband and my parents.

Meaning of Tertiary beneficiary & Tertiary beneficiary Definition