Can a beneficiary be a best friend? ?
- AnonymousLv 72 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.
- car253Lv 72 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.
- WilliamLv 72 months ago
They can be whoever you want them to be, just not yourself.
- JudithLv 72 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.
- How do you think about the answers? You can sign in to vote the answer.
- JudyLv 72 months ago
Yes, can be anyone you want.
- 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.