What does beneficiary?

Question

what does it mean to name a beneficiary in my insurance policy?

Answer 1

The beneficiary is the primary reason you are buying the life insurance. The beneficiary is someone you want to take care of financially even though you are not there anymore.

If you are buying life insurance and you don't already have a beneficiary in mind you probably should not be buying the policy.

Answer 2

That's the person who gets the money if you kick off.

Answer 3

Beneficiary is the person you designate to recieve the money from your policy should you happen to die.