The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.

Name: The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.
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Question

Quizplus · Accepted Answer

This statement is true. The beneficiary is the person who will receive the payout from the life insurance policy after the insured person has passed away.

The Beneficiary Is the Individual Designated by the Owner of the Life