The beneficiary is the person designated by the policy holder. Generally speaking, if the applicant, the insured and the owner are the same person, no matter who designates the beneficiary, it is actually the same; However, if the applicant, the insured and the owner are not the same person, the beneficiary shall be designated by the applicant or the insured.
Beneficiary refers to the insured or the person designated by the insured to have the right to claim insurance money in the life insurance contract, and both the insured and the insured can be beneficiaries. If the applicant and the insured have not designated the beneficiary, the legal heir shall be the beneficiary.
In an insurance contract, the person designated by the insured or the applicant who has the right to receive the insurance money after the death of the insured is generally in a life insurance contract. After the death of the insured, the insurance money received by the beneficiary shall not be used as the deceased's legacy to pay off the deceased's debts, and no one other than the beneficiary has the right to share the insurance money.
In an insurance contract, the beneficiary only enjoys the rights and does not bear the obligation to pay the insurance premium. The beneficiary's right to benefit depends on the fact that the beneficiary is still alive when the insured dies. If the beneficiary dies before the insured, the rights of the beneficiary shall be returned to the insured, or the insured or the insured designates a new beneficiary, and the heir of the beneficiary cannot inherit the rights of the beneficiary.
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