A person(s) named to receive policy benefits if the primary beneficiary is deceased at the time the benefits become payable.
A person(s) named to receive policy benefits if the primary beneficiary is deceased at the time the benefits become payable.
contract of insurance made with an employer or other entity that covers a group of persons identified by reference to their relationship to the entity buying the contract. The group contractual arrangement is generally used to cover employees of a common employer, members of a trade association or trusteeship, members of a welfare or employee benefit association, members of a labor union, or members of a professional or other association not formed only for the purpose of obtaining insurance.