What Does Contingent Mean With Life Insurance? 
Generally `` contingent '' in Life Insurance would refer to the beneficiary . You always name a beneficiary , who would receive the proceeds of the policy . In addition , you can also -LRB- optionally -RRB- name acontingent beneficiary . A contingent beneficiary is a secondary beneficiary that would receive the proceeds from the policy if the main or primary beneficiary does not survive the insured . 