Who can be named as a life insurance beneficiary in Nevada?

In Nevada, a life insurance policyholder can name virtually any person or legal entity as a beneficiary — including family members, friends, trusts, charities, businesses, and estates. There are few legal restrictions on who can be named, though some considerations apply.

Individuals: any natural person can be named — spouse, child, parent, sibling, or even an unrelated individual. The key is that the policyholder chooses the beneficiary; there is no requirement to name a family member.

Trusts: naming a trust as beneficiary is common in estate planning. The trust manages and distributes the death benefit according to the trust document — useful for minor children, beneficiaries with special needs, or complex inheritance structures.

Charities and nonprofits: a policyholder can name a charity as primary or partial beneficiary, creating a meaningful philanthropic gift as part of an estate plan.

Businesses: in buy-sell agreements and key person insurance, businesses are commonly named as beneficiaries.

Minors cannot manage money — avoid naming minor children directly. Use a custodian under Nevada's Uniform Transfers to Minors Act (UTMA) or a trust. The estate is the least desirable beneficiary — assets named to the estate go through probate and become subject to creditors. Agents in our network can help structure beneficiary designations correctly.