Which of the following is NOT a type of beneficiary designation?

The correct answer is conditional because this designation does not refer to a recognized type of beneficiary designation in life insurance policies.

In life insurance, a beneficiary designation outlines who will receive benefits upon the insured's death. There are typically two main types of beneficiary designations: revocable and irrevocable. A revocable designation allows the policyholder to change the beneficiary at any time without the beneficiary's consent, which provides flexibility. An irrevocable designation, on the other hand, locks in the beneficiary, requiring that their consent is obtained if the policyholder wishes to change it.

Named beneficiaries straightforwardly refers to beneficiaries designated by name in the policy and usually refers to both revocable and irrevocable beneficiaries. Since "conditional" does not fit into the standard classifications of beneficiary designations, it is not commonly used in this context. Understanding these types helps policyholders make informed decisions about who will benefit from their insurance policies.