A beneficiary is a person or entity entitled to receive a specified insurance benefit when the relevant event occurs. The term is especially common in life insurance. Entitlement may arise through the contract, a valid designation, or applicable succession rules, and it can differ from merely being named as a nominee.
Families in Nepal should record intended recipients clearly and review the arrangement after marriage, childbirth, or death in the family. Where a minor is involved, payment arrangements may require additional documentation. Do not assume a foreign policy's beneficiary rules apply unchanged to a Nepal-issued contract.