Beneficiary
The person, trust, or organization that receives the life insurance payout.
What You Need to Know
Beneficiaries are the people or entities you designate to receive the death benefit. You can list primary and contingent beneficiaries and assign percentages to each.
Review beneficiary designations after major life events (marriage, divorce, birth) and consider trusts if children are minors.
Sources & References
This information is sourced from authoritative government and academic institutions:
- naic.org
https://www.naic.org/documents/consumer_guide_life_insurance.pdf
Related Calculators & Tools
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