The beneficiary named in the insurance policy is legally a(n):
A) substantial beneficiary.
B) material beneficiary.
C) incidental beneficiary.
D) third-party beneficiary.

Question

Quizplus · Accepted Answer

The beneficiary named in the insurance policy is a third-party beneficiary, as they are not a party to the contract between the insurer and the policyholder. They are instead a beneficiary of the contract between those two parties.

The Beneficiary Named in the Insurance Policy Is Legally A(n)