What Is Beneficiary?
The person, entity, or estate designated to receive the death benefit proceeds when the insured dies.
Beneficiary across 3 exams
Beneficiary appears on the following exams. Each defines it in the context candidates are tested on:
- Life Insurance
- The person, entity, or estate designated to receive the death benefit proceeds when the insured dies.
- Health Insurance
- The person or entity designated to receive policy benefits, such as a death benefit, upon the occurrence of the insured event.
- Health-Only Insurance
- The person or entity designated to receive the policy benefits when a covered event occurs or upon the insured's death. The policyowner controls who is named and can change this designation.