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beneficiary Definition

ben·efi·ci·ary (ben′ə fis̸h′ē er′ē, -fis̸h′ər ē)

adjective

of or holding a benefice

Etymology: L beneficiarius

noun pl. -·ar′·ies

  1. a holder of a benefice
  2. anyone receiving benefit
  3. a person named to receive the income or inheritance from a will, insurance policy, trust, etc.
  4. Law a person for whose benefit a trust has been created

beneficiary Synonyms

beneficiary

n.

recipient, receiver, payee, legatee, heir, heiress, inheritor, possessor, successor, assignee, donee, stipendiary, pensioner, almsman, grantee, devisee, charity case*.

Antonyms donor*, giver*, testator.

beneficiary Finance Definition

The institution or person who receives cash or an investment; typi-cally used to refer to people who inherit money or property through a will, or people who receive the proceeds from a life insurance policy, annuity, or trust.

beneficiary Law Definition

n

A person entitled to an advantage, benefit, or profit (such as an inheritance under a will or the proceeds of an annuity, insurance policy, or property held in trust) arising from an appointment, assignment, disposition, instrument, or legal arrangement.
creditor beneficiary
A third-party beneficiary who is to receive the benefit of a contract in satisfaction of a debt, duty, or liability owed to them by the party who purchased the benefit. Under certain circumstances, the execution of the contract itself may discharge the obligation. In any case, the contract must be primarily for the third person’s benefit.
donee beneficiary
A third-party beneficiary who is to receive the benefit of a contract as a gift from the party who purchased the benefit.
incidental beneficiary
A person who is not a party to, but is the unintended beneficiary of, a contract or trust. Such a person has no legally enforceable right to the benefit they receive.
intended beneficiary
A person who is not a party to a contract or trust, but is intended by the parties to benefit from the contract or trust. Such a person has the ability to legally enforce the contract or trust once their right to the benefit vests.
third-party beneficiary
A person who is not a party to, but is the intended beneficiary of, a contract.

beneficiary Usage Examples

Converse of object

  • intend: John Norman was probably the intended beneficiary of this grant.
  • nominate: It is always possible to nominate a beneficiary, but this is a purely administrative annotation, and has no effect upon title.
  • appoint: The manner of appointing the beneficiaries of the Foundation, which may include the Founder.
  • trace: What happens if the executors of a Will can't trace a beneficiary?

Adjective modifier

  • residuary: Private individuals Breach of trust The contentious probate group were instructed by four residuary beneficiaries under a will.
  • intended: The most obvious users of course are the students, the intended main beneficiaries.
  • low-income: Of the welfare of prwora on eligible for coverage low-income beneficiaries who.
  • disappointed: This may give a disappointed beneficiary a right of action against them.
  • rightful: Miss Sahili is the rightful beneficiary, and she should remain so.
  • ultimate: True, the ultimate beneficiary in both sorts of trial may be society at large rather than the individual.

Noun used with modifier

Medicare: Aren't enough people income inequality measures of medicare beneficiaries.

Preposition: in

connection: The Pensions Advisory Service ( OPAS ) is available to assist members and beneficiaries in connection with difficulties which they have failed to resolve.

Preposition: of

  • upratings: Two-thirds of the beneficiaries of the 2004 upratings are estimated to be women workers.
  • largesse: Schools and learners should not be the passive beneficiaries of largesse from HE but should be active partners.
  • trust: Trustees owe fiduciary duties to the beneficiaries of the trust.
  • globalization: Clearly some of the main beneficiaries of globalization are developing countries.
  • estate: In the main no compensation is available to the beneficiaries of the estates involved.
  • charity: Are there special conditions when a charity grants a lease to a beneficiary of the charity?

Preposition: under

  • trust: The settlor agrees the provisions of the trust deed, appoints the trustees and specifies the beneficiaries under the trust.
  • will: The extension of the Scheme to cover beneficiaries under wills is also welcome.