Beneficiary

Business / Debt / Beneficiary: The Person who is entitled to receive funds of property under the terms and provisions of a will, trust, insurance policy or security instrument. In connection with a mortgage loan the beneficiary is the lender.

Contingent Beneficiary

Business / Taxes / Contingent Beneficiary: A contingent beneficiary receives the proceeds of an insurance policy, term-certain annuity, individual retirement account (IRA), employer-sponsored retirement savings plan, will, or trust if the prim MORE

Beneficiary Statement

Business / Real Estate / Beneficiary Statement: When an existing loan is to be paid or assumed by a buyer, the escrow agent will obtain a statement of the balance due on the loan so the buyer receives the proper amount of credit. MORE

Income Beneficiary

Business / Finance / Income Beneficiary: Another term for net income. MORE

529 Prepaid Tuition Plan

Business / Taxes / 529 Prepaid Tuition Plan: With a prepaid tuition plan, you purchase tuition credits at current rates to be used at some point in the future when your beneficiary attends one of the colleges or universities participating in the MORE

Cash Value Account

Business / Taxes / Cash Value Account: If you have a permanent life insurance policy, part of each premium you pay goes into a tax-deferred account called the cash value account. You can borrow against the money that accumulates in this ac MORE

529 College Savings Plan

Business / Taxes / 529 College Savings Plan: Each 529 college savings plan is sponsored by a particular state or group of states, and while each plan is a little different, they share many basic elements. When you invest in a 529 savings plan, a MORE

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