Tertiary Insurance Definition

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Tertiary insurance is actually a designation of a beneficiary. Get a tertiary insurance definition with help from an experienced insurance professional in this free video clip.

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Video Transcript

Hi, my name is Susan Combs, and today we're gonna talk about tertiary insurance definition. When it comes to tertiary insurance it's really not an insurance so to speak it's actually designation of a beneficiary. So it's usually in terms of say a life insurance policy. So when you have a life insurance policy you know you set them up for various reasons but a lot of times you set it up to have your love ones taken care of to die. So usually what you do is you have a beneficiary so that's the person that's designated to get the money first and so they're usually called primary and then you can setup somebody that is secondary so that's the person that's going to get the money second and then if you're concerned that the apocalypse is coming and you need to make sure that there's a third person taking care of you, you can setup somebody as a tertiary beneficiary so that 's a third beneficiary. So how that works is if say the, the primary and the secondary are, are dead as well then the money will come to that tertiary person so you know it's really a pretty easy concept to understand tertiary means three and that's a third person that's gonna get the money.


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