Life Insurance
Beneficiary
The person, entity, or trust designated to receive the death benefit of a life insurance policy.
Last reviewed: May 2026 · Editorial methodology
Definition
The person or entity designated to receive the death benefit from a life insurance policy. You can name multiple beneficiaries and specify percentage splits. Keeping beneficiary designations updated is critical after major life events like marriage, divorce, the birth of a child, or the death of a previously named beneficiary. Beneficiary designations override what your will says about the same asset, which is why outdated designations are a common cause of unintended inheritances.
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Cover Forge USA Editorial Team
Editorial Lead
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed 2026-06-14
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