Who is the recipient of benefits under a will or policy?

Who is the recipient of benefits under a will or policy?

• A. Authority
• B. Beneficiary
• C. Balance-sheet approach
• D. Benchmarks

Answer: (B)

The recipient of benefits under a will or policy is the beneficiary. In estate planning, a beneficiary is the person or organization designated to receive assets or benefits—such as cash, property, or other hold­ings—after the testator’s death as specified in the will. In a life insurance policy, the beneficiary is the person or entity named to receive the policy’s death benefit when the insured dies. The key idea is that the beneficiary is the designated recipient of the assets or proceeds, whereas other terms here refer to roles or concepts not tied to who receives the benefits.

The recipient of benefits under a will or policy is the beneficiary. In estate planning, a beneficiary is the person or organization designated to receive assets or benefits—such as cash, property, or other hold­ings—after the testator’s death as specified in the will. In a life insurance policy, the beneficiary is the person or entity named to receive the policy’s death benefit when the insured dies. The key idea is that the beneficiary is the designated recipient of the assets or proceeds, whereas other terms here refer to roles or concepts not tied to who receives the benefits.