Which of the following is a responsibility of a guardian appointed for a minor beneficiary?

A guardian appointed for a minor beneficiary has the responsibility to manage the minor’s assets in a way that is in the best interest of the child. Investing the proceeds wisely is an essential aspect of this duty since the guardian must ensure that the funds are preserved and capable of supporting the minor's future needs. This includes planning for education, health care, and general living expenses until the minor reaches adulthood.

The other responsibilities mentioned, while they may be pertinent in certain contexts, do not represent the primary obligation of a guardian in the same way. For instance, paying off the minor’s debts may not be typical, as minors generally do not hold significant debts in their own names. Additionally, ensuring that the minor understands the insurance policy may not be feasible or appropriate, as minors might lack the legal capacity to fully understand such complex matters. Lastly, while spending funds on the minor's educational needs can be an aspect of proper management, the overarching responsibility is to make sound financial decisions regarding the investment of proceeds, which creates a stable foundation for the minor's future.