The usual beneficiaries of a life insurance policy are the spouse or children of the insured person.

However, if a person has a financial interest as in a business, they can the business as the beneficiary of the life insurance.

This is sometimes the case with a key man life insurance policy when a business's top sales person based on their value to the business is named as the insured, and the business is the beneficiary.

Otherwise, the owner of the life insurance policy names...