Who Can Be Named The Beneficiary Of A Life Insurance Policy?
11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateWho can be named a beneficiary of a life insurance policy? Just about anyone and anything. You can name your spouse, children, parents, neices, nephews, business partners. You can also name universities, animal shelters, non profits, for profits, banks and other business entities. Being a beneficiary is still something you can decline to accept if you desire. Insurance proceeds would go to the next beneficiary or into the estate or as some people are doing a trust.Answered on May 7, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.The beneficiary of a life insurance policy is chosen by the owner of the policy. When taking out the policy, the insurance company will check to see if the beneficiary is a relative or would suffer financial loss if the insured person dies. A beneficiary can also be a charity, business, organization, or other entity.Answered on November 26, 2014flag this answer
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