Who Can Be A Beneficiary On A Life Insurance Policy? 
The beneficiary of a life insurance policy can be a relative , business colleague , person or entity to whom money is owed , funeral home , charity , fiance , domestic partner , live in friend , or anyone else with a financial tie . If they would suffer financially if you died , they can be your beneficiary . Or if you are now receiving money from them , life insurance can be a way of paying them back . 