Who Can Be A Beneficiary On A Life Insurance Policy? 
Maybe there are different rules in other states , but according to the insurance manual I studied for my insurance producer license the Owner of the policy may assign ANYone they choose to be their Beneficiary . It can be a family member or a friend . It can be a charity or the homeless guy at the park , -LRB- as long as you know his name and he can identify himself positively -RRB- . In order to buy insurance on someone you must have an insurable interest , but the owner of an insurance policy may name anyone they want as the beneficiary . 