a : the person designated to receive the income of a trust estate
b : the person named (as in an insurance policy) to receive proceeds or benefits
— beneficiary adjective
Examples of BENEFICIARY
- The college was a beneficiary of the private grant.
First Known Use of BENEFICIARY
Rhymes with BENEFICIARY
beneficiary noun (Concise Encyclopedia)
Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. A contingent beneficiary receives proceeds upon the occurrence of a specified event, such as the death of the primary beneficiary. A direct beneficiary is a third party whom contracting individuals intend to benefit from a contract; an incidental beneficiary benefits without that being the contracting individuals' intention.
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