A beneficiary is a person or group that receives benefits, profits, or advantages from something, such as a will, trust, or insurance policy. The web page provides various definitions, synonyms, translations, and usage examples of the word beneficiary . A Beneficiary in Banking is an individual or organisation that receives money, properties or valuable items. This term is commonly used when a person receives a will, a policy or simply opens a bank account Naming the person as ‘ beneficiary ’ ensures that the money and assets are sent to the right person. This leads to easy money transfer and eliminates possible confusion between potential claimants. Understanding beneficiary function and significance is important for smart wealth ... The meaning of BENEFICIARY is a person or thing that receives help or an advantage from something : one that benefits from something. How to use beneficiary in a sentence. Did you know? The term beneficiary is a core concept under personal finance . Get to know the definition of beneficiary , what it is, the advantages, and the latest trends here.
