beneficiary

3 ENTRIES FOUND:

ben·e·fi·cia·ry

noun \ˌbe-nə-ˈfi-shē-ˌer-ē, -e-rē, -ˈfi-sh(ə-)rē\

: a person, organization, etc., that is helped by something : someone or something that benefits from something

: a person, organization, etc., that receives money or property when someone dies

plural ben·e·fi·cia·ries

Full Definition of BENEFICIARY

1
:  one that benefits from something
2
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

  1. The college was a beneficiary of the private grant.

First Known Use of BENEFICIARY

1662

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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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