ben·e·fi·ci·ar·y
ben·e·fi·ci·ar·y/ˌbenəˈfiSHēˌerē/
noun
a person who derives advantage from something, especially a trust, will, or life insurance policy.
synonyms: heir, heiress, inheritor, legatee, recipient, receiver, payee, donee, assignee, devisee, grantee, cestui que trust, heritor
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A beneficiary is someone who receives property left to them by another individual. This is often a monetary benefit received as an inheritance.
Beneficiary Definition & Meaning - Merriam-Webster
www.merriam-webster.com › dictionary › beneficiary
1. a person or thing that receives help or an advantage from something : one that benefits from something the main beneficiaries of these economic reforms.
Aug 26, 2024 · A beneficiary is generally any person or entity the account owner chooses to receive the benefits of a retirement account or an IRA after they die.
Most beneficiary designations will require you to provide a person's full legal name and their relationship to you (spouse, child, mother, etc.).
A beneficiary is a person, often a relative or loved one, whom you have chosen to be eligible to receive a benefit upon your death.
A beneficiary is an individual who receives benefits from a transaction via a contract (such as an insurance policy), a will, or trust.
The following briefly describes the different types of beneficiaries paid by Social Security. The descriptions are not meant to be definitive.
A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit. You can name: One person; Two or more people ...
When you die, the Office of Federal Employees' Group Life Insurance (OFEGLI) will pay life insurance benefits in a particular order set by law.
a person or group who receives money, advantages, etc. as a result of something else: Her wife was the chief beneficiary of her will.