Question

Who is a beneficiary in the context of an insurance policy?

a.

The person who sells insurance policies

b.

The person or entity named in the policy to receive insurance proceeds upon the death of the insured

c.

The insurance company providing the coverage

d.

The medical examiner evaluating the policyholder's health

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).The person or entity named in the policy to receive insurance proceeds upon the death of the insured Explanation:A beneficiary is the person(s) or entity(ies) named in the policy to receive insurance proceeds upon the death of the insured.

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