Beneficiary For Insurance Meaning. A life insurance beneficiary is a person that will be paid a certain amount of money upon your death. A beneficiary is a person or even an organization to which the benefits from your life insurance policy will be sent, once you’ve died.
Beneficiaries fall into two categories: Picking an heir for a life insurance policy is a vital step when you sign up for one because it is the only legal way to appoint who receives the. The term beneficiary is also used in the context of life insurance, and refers to the person (or people) who.