benefit

1. An entitlement that is part of an employment contract. For example, employees at a firm may receive dental and health insurance as benefits. Also called employee benefit, fringe benefit. See also certified employee benefit specialist.
2. Payment by an insurance company to an insured person or an insured person's beneficiary. A person who has health insurance and is hospitalized will receive benefits from his or her insurance company. See also defined-benefit pension plan.
3. Payment by a public assistance program.