Beneficiary

/ˌbɛnɪˈfɪʃiˌɛri/

Meaning & Definition

noun

A person or entity designated to receive benefits, advantages, or profits from something, especially in the context of insurance, trusts, or wills.

Upon her passing, the beneficiary of her life insurance policy will receive the full amount.

A person or group that receives help or advantage from something.

The charity aims to assist the beneficiaries of its programs by providing education and resources.

The recipient of funds or property from a will or trust.

As the sole beneficiary of the estate, he was responsible for managing the inheritance.

An individual or group that derives advantage from a particular situation or arrangement.

The new trade agreement will make the country a major beneficiary of increased market access.

In legal contexts, a person or party that benefits from a contract or arrangement.

The beneficiary of the trust must adhere to the stipulations set forth by the trustee.

Late Latin 'beneficiarius', from 'beneficium' meaning 'benefit'.

sole beneficiary

A single individual designated to receive benefits or assets.

joint beneficiaries

Two or more individuals or entities entitled to share in benefits.

primary beneficiary

The first in line to receive benefits from a will or insurance.

contingent beneficiary

An individual who will receive benefits only if the primary beneficiary is unable to.

benefit

An advantage or profit gained from something.

bequest

A legacy or gift of personal property by will.

trustee

A person who holds or manages property or assets for the benefit of another.

money holder

He’s just a money holder until the trust is activated.

the lucky one

She’s the lucky one who got all the money from the old man.