The correct answer is B. The person or group of people who will receive your life insurance money
Explanation:
A beneficiary refers to an individual that receives a benefit or good derived from another person or factor. In the case of life insurance, that is a program in which you pay money to an insurance company in exchange of death benefit (money paid to others once you die), the beneficiary or beneficiaries are those that will receive the money you pay for in your life insurance after you die or in some cases after other circumstances. Due to this, the beneficiaries are often close relatives of the person paying the life insurance. This implies a beneficiary is "The person or group of people who will receive your life insurance money".
