Beneficiary parties are those persons who are entitled to insurance benefits when an insured event takes place.
Beneficiary parties for risk-life insurance:
In the case of risk-life insurance for the event of death, the beneficiary parties receive a one-time or annuity payment from the insurance company when the insured person deceases, depending on the contract.
As a general rule, any persons can be selected. This selection can also be changed during the time of the contract duration. There are only limitations if the insurance was selected as a pillar 3a provision.