What are the differences between a primary, contingent, revocable and irrevocable beneficiary?

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Asked May 7, 2012

1 Answer


In the context of life insurance, there are several types of beneficiaries, each with its own set of rights and responsibilities. Here are the differences between primary, contingent, revocable, and irrevocable beneficiaries:

  • Primary Beneficiary: A primary beneficiary is the person who is first in line to receive the death benefit if the insured person dies. You can name one or more primary beneficiaries, and the death benefit will be divided equally among them if there is more than one. You can also designate percentages of the death benefit for each primary beneficiary.
  • Contingent Beneficiary: A contingent beneficiary is someone who will receive the death benefit if the primary beneficiary is unable or unwilling to receive it. This can happen if the primary beneficiary dies before the insured person or if they disclaim the benefit. You can name one or more contingent beneficiaries, and the death benefit will be divided equally among them if there is more than one.
  • Revocable Beneficiary: A revocable beneficiary is someone who can be removed or changed by the policy owner at any time without their consent. The policy owner has complete control over the designation of the beneficiary and can change it as they see fit.
  • Irrevocable Beneficiary: An irrevocable beneficiary is someone who cannot be removed or changed by the policy owner without their consent. Once you name an irrevocable beneficiary, you cannot change it without their permission. This means that you lose control over the designation of the beneficiary, but it also means that the beneficiary is guaranteed to receive the death benefit.
It's important to note that the specific rules and regulations governing life insurance beneficiaries can vary by state and by insurance company. It's always a good idea to consult with an experienced insurance professional or attorney to ensure that your beneficiary designations are properly executed and reflect your wishes.

Answered May 7, 2012 by Anonymous

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