I am buying a life insurance policy.

I am to put down the name of my beneficiary and successor through my life insurance policy.

Is my beneficiary the one who will receive the death benefit? What is the successor?

Yes, the beneficiary is the person or persons who receive the money from your life insurance policy if you die.

The Succession Beneficiary Clause states the procedure for revoking a current beneficiary and designating a successor beneficiary. Life insurance companies ...