Can anyone be a beneficiary on a life insurance policy?

Can anyone be a beneficiary on a life insurance policy?

Choosing a life insurance beneficiary A beneficiary can be a person, charity, business or trust. If the beneficiary is a person, they can be a relative, child, spouse, friend or anyone else you happen to know. As some agents like to say, you can even name your “”secret lover”” as a life insurance beneficiary. Feb 15, 2022