In plain English
It shows how much of the policy payout goes to one beneficiary. The amount is expressed as a percentage share, not as a fixed amount. Each percentage applies to a particular beneficiary.
In context
Here, it labels the percentage-share entry for the money payable under the policy that is assigned to that beneficiary.
- Situation
- Enrolling in policies and reading coverage, member, beneficiary, and effective-date labels
- What it communicates
- labels the share field next to each beneficiary name
Meaning limits
The term by itself does not establish the total amount payable under the policy or identify the beneficiary.
Examples
“Under the policy, Lina's beneficiary percentage is 70 percent, and her brother's is 30 percent.”
“The clerk entered 25 percent as Amir's beneficiary percentage.”