Contingent Beneficiary

Business, Legal & Accounting Glossary

Definition: Contingent Beneficiary




What is the dictionary definition of Contingent Beneficiary?

Dictionary Definition


n. a person or entity named to receive a gift under the terms of a will, trust or insurance policy, who will only receive that gift if a certain event occurs or a certain set of circumstances happen. Examples: surviving another beneficiary, still being married to the same spouse, having completed college, or being certified as having shaken his/her drug habit.

  1. An alternate beneficiary named in a will, trust or other document.
  2. Any person entitled to property under a will if one or more prior conditions are satisfied.

For example, if Fred is entitled to take property under a will only if he’s married at the time of the will maker’s death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.


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Contingent Beneficiary. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 23, 2021 https://payrollheaven.com/define/contingent-beneficiary/.
Chicago Manual of Style (CMS):
Contingent Beneficiary. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/contingent-beneficiary/ (accessed: September 23, 2021).
American Psychological Association (APA):
Contingent Beneficiary. PayrollHeaven.com. Retrieved September 23, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/contingent-beneficiary/

Definition Sources


Definitions for Contingent Beneficiary are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 0 Views.