What is the Definition of Per Stirpes Beneficiary Designation?
A type of life insurance policy beneficiary designation in which the life insurance benefits are divided among a class of beneficiaries; for example, children of the insured. The living members of the class and the descendants of any deceased members of the class share in the benefits equally. Contrast with Per capita beneficiary designation.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Per Stirpes Beneficiary Designation?
You can find random definition and meaning of insurance terms below:
What is the meaning of Deductible
The portion of a claim you pay out of pocket. Choosing a higher deductible will lower your insurance premiums.
What is the meaning of Defensive Driver Discount
Certain drivers (usually over age 50) who have voluntarily taken a defensive driving course may qualify for this discount on their auto insurance premiums.
What is the meaning of Depreciation
The decrease in value of any property due to wear, tear, and/or time. Generally, depreciation is not an insurable loss.
Thank you for visiting our website and read this FAQ article about "What is the Definition of Per Stirpes Beneficiary Designation?". We hope you get what you searching for.
definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.