Beneficiary parties
A beneficiary is someone who is entitled to insurance benefits when an insured event occurs.
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.