Who To Name As Beneficiary Life Insurance? 
The beneficiary of your life insurance policy should be someone you trust to handle the money in a way that you would approve of . E.g. . If you want your policy to pay for your funeral , choose a beneficiary who you can depend on to see that the money gets spent in that fashion . Or , it should be the one -LRB- s -RRB- who would be most impacted by your death . E.g. Your spouse . It is best not to leave the money to minors unless you also have designated a financial guardian for them . If your estate is large enough to pay estate taxes , you may want to consider forming an ILIT and leaving the money to that . Contacting an insurance and tax professional can help you make this important decision . 