The proceeds from a life insurance policy, also known as, the death benefits, are paid out to the beneficiary or beneficiaries of a life insurance policy upon the death of the insured person.

The beneficiary contacts the insurance company after the insured has died, to make a claim for the death benefit from the policy.

The insurer will mail the forms to the beneficiary that need to be completed in order to make the claim for the death benefits.

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If you own a life insurance policy you choose who the beneficiary will be upon purchasing the policy.

You may choose more than one person to receive a portion of the proceeds from your life insurance policy.

If the primary beneficiary dies before you do, then you can change beneficiaries on your life insurance policy.

If the primary beneficiary dies after you do, but has yet to receive the proceeds from your life insurance policy after your death, then the money would go to the secondary benefic...
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No, your spouse does not have to be named as your beneficiary on your life insurance policy.

As the owner of your life insurance policy you can choose anyone you wish to be the beneficiary, including but not limited to your children, although if they are minors, it is better to leave the money to a trust or another trusted adult who you know would use the death benefit for their welfare.

You can choose anyone or any entity to be your beneficiary who has some financial input i...

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