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Anonymous
Anonymous asked in Business & FinanceInsurance · 2 months ago

Can a beneficiary be a best friend? ?

6 Answers

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  • 2 months ago

    Depends on the context of what you're referring to.  Most of the time, the answer is yes.  But, if you're purchasing NEW life insurance, typically the best friend could not be the beneficiary.  Though, assuming the person you put down has an insurable interest, then you could change it AFTER the policy is issued to the best friend.  That's what same-sex couples used to have to do in order to get life insurance to protect themselves.

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  • car253
    Lv 7
    2 months ago

    Yes. It can be your best friend. Just make sure to change the beneficiary if your best friend becomes a no longer best friend. A good insurance agent will ask why you want your best friend as beneficiary. Usually it is because your best friend will be the one taking care of your child if you die. So, I hope you have a good reason for naming your best friend.

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  • 2 months ago

    They can be whoever you want them to be, just not yourself.

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  • Judith
    Lv 7
    2 months ago

    Anyone you want can be your beneficiary.  Heck you can leave it to a cat if you wish.  But I wouldn't tell them.  Might be too tempting for some people if you get my drift.

    You might have to mention that certain people are not to inherit or are not beneficiaries so that it can't be contested that you weren't of sound mind and, as a result, overlooked them.  That would apply to wills only; not insurance policies.

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  • Judy
    Lv 7
    2 months ago

    Yes, can be anyone you want.

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  • 2 months ago

    Your beneficiary can be anyone.  Make sure you also put in a contingent beneficiary in case Bestie dies.  Also keep a note somewhere with your will of what you have done.  Easy to overlook that nomination when your life changes because of an event like marriage or the birth of a child.

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