Who Gets My Life Insurance If I Die? 
When you purchase your Life Insurance policy , you have the opportunity to name your Beneficiary . This is the person or entity who will receive the proceeds of your policy when you die . You also have the chance to name a contingent Beneficiary as well . This person or entity would receive the proceeds in the event that your Primary Beneficiary for some reason could not . If you fail to name a beneficiary , the proceeds would be paid to your estate and therefore subject to probate , taxes and creditor claims . 