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Here are some examples of the people and organizations you can name as your beneficiary: A person (or multiple people) The trustee of a trust you've set up. A charity or nonprofit. A minor (child under 18 years of age) Your estate (in the case of a life insurance policy)
Life insurance beneficiaries can be individuals, such as a spouse or adult child, or entities, such as a trust. For example, if you have minor children, you may choose to establish a trust and name it as the beneficiary of your life insurance policy.
A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products.
Under some circumstances, it might make sense to name a trust as the beneficiary of your will. When you die, the property you leave will be transferred to the trust, rather than directly to a person or organization.
A beneficiary is a person or organization you name to get your stuff when you die. You name beneficiaries in a legal document?like a will, trust, life insurance policy, annuity, or retirement account. Here are some examples of the people and organizations you can name as your beneficiary: A person (or multiple people)