What is a beneficiary? Who can be my beneficiary?

A beneficiary is the person (or people) who will receive the death benefit in the event of the insured's death. You can have primary beneficiaries and secondary (contingent) beneficiaries. The secondary beneficiaries are given the death benefit if none of the primary beneficiaries are alive.

Currently, beneficiary(s) must be family, a spouse, domestic partner, child, or a trust.