---
title: "What Is Beneficiary? Definition | Epic Life Glossary"
description: "A beneficiary is the person or organization the policy owner names to receive the death benefit when the insured person dies. A policy can name one or..."
url: https://epicline.preview.multisites.ai/glossary/beneficiary
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Policy mechanics

# Beneficiary

A beneficiary is the person or organization the policy owner names to receive the death benefit when the insured person dies. A policy can name one or several beneficiaries and can split the payout by percentage.

## Why it matters

Naming the right beneficiary is the most important step after buying a policy. The payout usually goes straight to the named person and skips probate, so it can arrive faster than money in a will. Review the form after a marriage, divorce, birth, or death. An old or blank designation can send money to the wrong person or into the estate. Carriers may ask for a clear name, a relationship, and a percentage for each person.

Source: [law.cornell.edu](https://www.law.cornell.edu/wex/beneficiary)

[Read next, for familiesHow do you file a life insurance claim after a loved one dies?](https://epicline.preview.multisites.ai/guides/how-to-file-a-life-insurance-claim)

## Where we use this term

-   [Burial insurance vs life insurance vs pre-need funeral plans: what is the difference?](https://epicline.preview.multisites.ai/guides/burial-insurance-vs-life-insurance-vs-preneed)
-   [Fixed vs fixed index annuity: how do they work and who do they fit?](https://epicline.preview.multisites.ai/guides/fixed-vs-fixed-index-annuity)
-   [Guaranteed issue vs simplified issue: which fits your health and age?](https://epicline.preview.multisites.ai/guides/guaranteed-vs-simplified-issue)
-   [Can you still get life insurance over 70? Options that still work](https://epicline.preview.multisites.ai/guides/life-insurance-over-70)
-   [Mortgage protection vs term life vs PMI: who does each one protect?](https://epicline.preview.multisites.ai/guides/mortgage-protection-vs-term-life-vs-pmi)

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