What is the name of the provision that specifies to whom the insurer will pay benefits?

The correct provision that specifies to whom the insurer will pay benefits is referred to as "Payment of Claims." This provision outlines the procedures and specifics regarding how and to whom claims will be paid. It ensures there is clear guidance on the process of settling claims, including the conditions under which payments are made and the nature of documentation required.

The choice related to beneficiary designation also addresses the allocation of benefits, but it is more about the identification of the person or entity who is entitled to receive benefits under a policy, rather than the procedural aspects of how those benefits are processed and disbursed. Policy definitions, while important for clarifying terms within an insurance policy, do not specify payment procedures. Claim adjustment refers to the review process that the insurer undertakes to confirm the validity and amount of a claim, not the disbursement of benefits.

In essence, the "Payment of Claims" provision serves as a foundational element in insurance contracts, ensuring that there are established protocols that protect both the insurer and insured regarding benefit payments.