Life insurance terminology shouldn't be confusing. Here is the definition of beneficiary.

The beneficiary is the recipient (or recipients) of your policy’s death benefit. This can be one person or organization, or several persons or organizations. You pick whom the death benefit goes to, and what percentage of it each receives.

For example: A policy’s death benefit will be issued to whomever is named as the recipient in the actual policy. i.e John Smith has a policy for $250,000 and passes away, his surviving spouse receives a death benefit from the policy of the face value of $250,000.


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