The ________ is the entity who designates the beneficiary of the insurance policy.

Question

Quizplus · Accepted Answer

The policy owner is the one who purchases the insurance policy and is responsible for designating the beneficiary of the policy. The beneficiary is the individual who receives the benefits from the insurance policy, while the insured is the person whose life, property or health is being insured. Actuaries are professionals who use statistical analysis to assess risk and determine premium rates.

The ________ Is the Entity Who Designates the Beneficiary of the Insurance