Definition of Tertiary beneficiary:
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?
- 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.
- 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.
- 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