The person or persons designated to receive the death benefit if the primary beneficiary dies prior to the death of the insured.Beneficiary, Irrevocable : A beneficiary that cannot be altered by the insured, the insured having relinquished the right to change the beneficiary designation.Beneficiary, Primary : The person or persons designated to receive the benefits under the policy.Benefit : Sum of money provided in an Insurance Policy to be paid for certain types of loss under the terms o an Insurance Policy, e.g., an accident Insurance Policy may provide that certain sum be paid for death, loss of limbs or sight of loss of time, These specified amounts are the benefits provided by the Policy.