secondary beneficiary
- The individual who stands to receive benefits or assets in a situation where the primary beneficiary is unable, unwilling, or ineligible to accept them
- In his will, he stated that his spouse is the primary beneficiary and his children are the secondary beneficiaries.
- The secondary beneficiary will only receive the insurance payout if the primary beneficiary is not alive.
- Just to be safe, she named her brother as the secondary beneficiary of her 401k retirement plan.
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