Example: A client or producer applies this rule in a policy situation. The correct concept is Primary beneficiary. The primary beneficiary has first priority to receive proceeds if living and eligible under the policy.

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Example: A client or producer applies this rule in a policy situation. The correct concept is The primary beneficiary cannot receive them under the policy. A contingent beneficiary is next in line if the primary beneficiary does not receive the proceeds.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Revocable. A revocable beneficiary can generally be changed by the policyowner without beneficiary consent.

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Example: A client or producer applies this rule in a policy situation. The correct concept is The irrevocable beneficiary's consent. An irrevocable beneficiary has vested rights, so changes generally require that beneficiary's consent.

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Example: A client or producer applies this rule in a policy situation. The correct concept is That beneficiary's descendants by branch. Per stirpes distributes a deceased beneficiary's share down that beneficiary's family branch.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Living members of the designated class at the same level. Per capita generally divides proceeds equally among living members of the specified class at the same level.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Estate administration and possible creditor claims. Proceeds paid to an estate become part of estate administration and may be available to estate creditors, subject to law.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Who can legally receive and manage the proceeds for the minor. A minor may not be able to directly receive or manage proceeds, so trusts or custodial arrangements may be considered.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Membership in a described group. Class designations identify beneficiaries as members of a group rather than by individual name.

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Example: A client or producer applies this rule in a policy situation. The correct concept is Policyowner. The policyowner controls beneficiary changes when the designation is revocable and no assignment restricts that right.

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