In insurance, what is the designated term for a policy owner's family members when making a class designation?

The term "beneficiary class" is correctly associated with the designated term for a policy owner's family members when making a class designation. In insurance, particularly life insurance, the beneficiaries are the individuals or groups who are entitled to receive the benefits or proceeds from the policy upon the death of the insured. When a policyholder designates a class of beneficiaries, this typically includes family members such as spouses, children, or other relatives.

This designation allows the policy owner to define a broader category of beneficiaries without naming each individual specifically, providing some flexibility in how the benefits are distributed among family members. This is essential in estate planning and ensures that the intent of the policyholder regarding their family members is clearly documented.

The other options do not precisely represent the concept of class designations within the context of insurance policies. For instance, "dependent group" might refer to dependents covered under a health insurance plan but does not indicate a class designation for beneficiaries. Similarly, "policy class" and "family designation" are not standard terms used in the industry to describe the categorization of family members as beneficiaries.