tertiary beneficiary

Popular Terms
A person designated as the beneficiary who will receive the proceeds of a policy should both the primary and secondary beneficiaries be deceased at the time the policy pays out.

Use 'tertiary beneficiary' in a Sentence

The tertiary beneficiary was never named so it was demonstrated by this action that the people involved are not preparing for a worst case scenario.
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If I die without a will, my sister will be the tertiary beneficiary of my estate, after my husband and my parents.
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Though the policy provides that my wife is the primary beneficiary it also provides that my daughters and grandchildren on secondary and tertiary beneficiary respectively.
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