Learn about the beneficiary of trust, an essential term in general insurance. Understand who a beneficiary is and the benefits they receive from a trust.
Learn about the death benefit in life insurance, the amount payable to the beneficiary upon the insured's death. Discover how it's calculated and factors affecting it.
Learn about the role and importance of a Survivor (Annuity) as the beneficiary named in an annuity contract. Discover how it impacts the benefits and payouts in the financial planning space.
Explore the concept of Special Power of Appointment in estates, where property interest is appointed by a donee. Learn its significance and implications in estate planning.
Learn about the role of a family dependent in health insurance, including coverage for spouses and single dependent children residing with the insured policyholder.
Understand the concept of a revocable beneficiary in life insurance, including the ability to change or revoke this type of beneficiary designation.
A detailed explanation of the term 'Payee' in the context of general insurance, defining a payee as a person receiving money.
Learn the meaning of 'Beneficiary' in general insurance terms: the person designated to receive the benefits of a policy. Understand its importance and role in insurance policies.
Learn about the Uniform Simultaneous Death Act, a law detailing how life insurers proceed when both the insured and the beneficiary die simultaneously. Discover who receives the benefits.
Learn about refund annuities, a type of annuity that ensures a refund to the named beneficiary if the annuitant dies before receiving benefits equal to the total paid premium.
