The main purpose of the policy is to pay a death benefit to the beneficiary named in the policy. (insuranceandestates.com)
The simple answer is «the beneficiary named in the policy» and that's true much of the time — but not always. (blog.annuity123.com)
If the policyholder dies while the policy is in force, a pre-set cash payment called a «death benefit» will be paid out to the beneficiaries named in the policy. (policygenius.com)