Legal Definitions - primary beneficiary

A primary beneficiary is a person who is designated to receive the proceeds of a life insurance policy when the insured person dies. This person is chosen by the policyholder and is usually a family member or loved one.

For example, if John has a life insurance policy and designates his wife, Jane, as the primary beneficiary, then Jane will receive the proceeds of the policy when John dies.

It is important to choose a primary beneficiary carefully and to keep the designation up to date, as this person will receive the benefits of the policy.