What is a contingency beneficiary?

Answers:

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Contingent beneficiary is the character or persons that you want your estate to dance to in the event that your beneficiary is not living. Often on a natural life insurance or 401k a person will autograph their spouse as beneficiary. But in the luggage of an accident that may destroy both you and your spouse you have the opportunity to designate someone else to receive the benefits.

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NOT THE PRIMARY BUT THE SECONDARY..
CASE THE PRIMARY PASSES AWAY THE CONTINGENCY
BENEFITS

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If the primary beneficiary dies before you do, next the "contingent" beneficiary gets the money.

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