Final answer:
The option not valid for handling the designation of minor beneficiaries on a life policy is allowing the minor to directly receive the benefit; alternatives include naming a guardian, establishing a trust, or designating a custodian.
Step-by-step explanation:
The option that is not a viable way to handle the designation of minor beneficiaries on a life policy is d) Allowing the minor to directly receive the benefit. Minors are not legally permitted in most jurisdictions to directly receive and manage large sums of money, such as life insurance proceeds. Instead, adults often make arrangements for the care of these funds until the minor reaches the age of majority. The other options listed, such as naming a guardian (a), establishing a trust (b), and designating a custodian (c), are commonly used methods to ensure minors are provided for while also protecting the funds.