Question

In: Finance

The one named in the policy to receive the insurance proceeds in case of the death...

The one named in the policy to receive the insurance proceeds in case of the death of the one taking out the policy is the:

Insured

Insurer

Beneficiary

Both insured and beneficiary

None of these

Solutions

Expert Solution

Answer:

Beneficiary.

Beneficiary is the person named in the policy entitled to receive the proceeds from the policy in case of death of policy owners / insured. In case, the insurer didn’t name any beneficiary or beneficiary died before the death of insurer, the proceeds from policy will pass under the will.

Whereas, Insurer is the person/firm providing the insurance facility to policy owners and Insured is the person taking out the policy.

jeff jeffy answered 2 years ago
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