Who is the beneficiary in a life insurance contract?

Answer 1

The beneficiary is the person to receive the coverage amount when the person covered by the policy dies.

In the first instance, the beneficiary is named by the applicant when application for the insurance policy is made. Unless the beneficiary designation is made irrevocable, the insured is free to change the beneficiary at any time until his/her death. Unless some provision of law or contract renders the designation of beneficiary irrevocable, the beneficiary does not have a right to remain as beneficiary and ordinarily cannot contest a subsequent change.

Answer 2

the owner of the company

Answer 3

the key employer is the owner and the employer is the beneficiary.