A person who is to receive life insurance proceeds when the insured dies is known as a ________.

Question

Quizplus · Accepted Answer

A beneficiary is the person or entity designated to receive the insurance proceeds upon the death of the insured. A donor is someone who gifts something, a bailee is someone who has temporary possession of someone else's property, and a notary is a public official who verifies signatures and administers oaths. None of these terms are applicable to life insurance proceeds.

A Person Who Is to Receive Life Insurance Proceeds When