Question

The person who receives financial protection from a life insurance plan is called a

Answer 1

The person who receives financial protection from a life insurance plan is called a Beneficiary.

Insurances are the financial protections that transfers the risk of loss of money  from an individual / business to an insurance company.

There are various type of Insurances like

• Life Insurance or Personal Insurance.
• Property Insurance.
• Fire Insurance.
• Liability Insurance.
• Guarantee Insurance.
• Social Insurance.

One of the most common insurances are life insurances which the beneficiary can claim while we are physically injured or critically ill due to some diseases.

Answer 2

Hey Friend

In simple words

The person who receives financial protection from a life insurance plan is called a Beneficiary.

                                                                                                                                         

Hope it helps you