Each state has a department of insurance. Life insurance laws are set by this department, NOT divorce court. As stated, I was an all lines insurance agent for years in another state. I had to pass exams to sell insurance. Read arizona dept of insurance for definition of beneficiary. Glossary of Life Insurance Terms | Arizona Department of Insurance Beneficiary. The person named in the policy to receive the insurance proceeds at the death of the insured. Anyone can be named as a beneficiary.