Provides for distribution of death benefits in the event that the beneficiary only barely outlives the insured based on a common disaster.
Filed under Money Glossary by Tracy Phaup
July 19, 2006
Grantor
The owner of the trust. The person who receives legal title of the property to be used for the benefit of the trust beneficiary is called the Trustee.
Filed under Money Glossary by Tracy Phaup
July 16, 2006
Beneficiary – Viable
In the absence of a viable beneficiary the proceeds of the death benefit will be paid to the estate of the insured.
Filed under Money Glossary by Tracy Phaup
July 5, 2006
Beneficiary – Minor
Would have to receive death benefits from a life insurance policy through a guardian or trustee.
Filed under Money Glossary by Tracy Phaup
