What is the term for designating a class or group of beneficiaries instead of naming individuals?

The term for designating a class or group of beneficiaries instead of naming individuals is known as class designation. This practice allows a policyholder to specify a category of beneficiaries—such as "my children" or "my siblings"—rather than listing each person by name. This is particularly useful in situations where the number of beneficiaries may change over time, such as with the birth of additional children or changes in family dynamics.

Class designation simplifies the process of naming beneficiaries, ensuring that all members of a particular group receive their share of the insurance benefits without the need for continuous updates to the policy. This can provide clarity and ensure that the intent of the policyholder is upheld, regardless of future changes in their family or relationships.