Paragraph match score 83.5%
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Key Takeaways
An appointee in life insurance is appointed when the nominee of a policy is a minor The appointee receives the claim amount and manages it until the nominee becomes legally eligible
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Glossary
Nominee: The person designated to receive the benefits of a life insurance policy in the event of the policyholder's death. Appointee: An adult designated by the policyholder to manage the life insurance benefits for a nominee until they reach adulthood.