How to Choose a Life Insurance Beneficiary (With Examples)

A family reviewing documents together at home, representing choosing a life insurance beneficiary

Quick Answer A life insurance beneficiary is the person, people, or entity who receives the payout when the insured person dies. Most policyholders name a primary beneficiary (such as a spouse or adult child) and a contingent beneficiary as a backup, and can split the payout among multiple people by percentage. The designation on file … Leer más