Definitions for "Beneficiary"
Related Terms:
Contingent beneficiary, Secondary beneficiary, Primary beneficiary, Beneficiaries, Contingent payee, Life insurance trust, Ilit, Insurance trust, Irrevocable life insurance trust, Irrevocable beneficiary, Revocable beneficiary, Crummey trust, Survivorship insurance, Survivorship life insurance, Common disaster clause, Survivor benefit, Death benefits, Crummey power, Nominee, Death benefit, Reversionary annuity, Second-to-die life insurance, Incidents of ownership, Insured person, Special needs trust, Estate planning, Joint-and-survivor annuity, Joint annuitant, Settlement option, Probate estate, Trusts, Policy owner, Death claim, Life insurance, Annuitant, Rabbi trust, Accelerated death benefits, Bond, Spendthrift provision, Tontine, Eligible dependent, Estate plan, Charitable trust, Covered person, Life beneficiary, Joint life policy, Survivor , Trust agreement, Certificate holder
Bestowed as a gratuity; as, beneficiary gifts.
A feudatory or vassal; hence, one who holds a benefice and uses its proceeds.
One who receives anything as a gift; one who receives a benefit or advantage; esp. one who receives help or income from an educational fund or a trust estate.
( beneficiati) originally referring to the lay holder or incumbent of church property (land and estates), often royal vassals; after the 12th century, refers to the holder of prebends directly connected with an office (benefices).
A beneficiary is a person for whose benefit the Trust is created. They may be named and identified in the Trust Instrument or described by reference to a class of beneficiaries, or in the case of discretionary trusts left to the Trustee's discretion.
Person covered by health insurance.
Named party who will receive the proceeds upon a specific event. For example, the named beneficiary of a life insurance policy will receive the life insurance proceeds upon the death of the insured.
A broad definition for any person or entity (like a charity) who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.
the person or organization that receives a bequest under a will, death benefits from a life insurance policy, or payments from a trust.
The person designated to receive the assets (title to a property, income from a trust, and so on) in the event of the holder's death.
the lender or their successor in interest for whose benefit a trust is created and to whom the debt is owed.
The person that the insured names to receive the policy benefit in the event he dies.
Someone who will receive the proceeds from a trust or settlement.
The person entitled to receive something under an estate or interest.
The person or organisation receiving support from a project
Someone who receives a benefit from someone or something. Most commonly used to refer to a person who receives income or capital from a trust, or from the estate of a deceased person.
In the context of Medicare and Medicaid programs, the name for the person who has insurance through Medicare or Medicaid.
a patient receiving Medicare benefits.
The seller in whose favour an L/C is issued, ie the person who will "benefit" from the L/C. (See also Letter of Credit).
The person, people, estate, trust or organization you choose to receive a benefit if you die while covered by life insurance or accidental death & dismemberment insurance at Stanford. You are automatically the beneficiary of your dependent's coverage unless you submit a written designation.
The person or party entitled to receive the benefits or a transaction.
A person or entity name in a will to receive a bequest or the economic benefits of estate assets given or bequeathed in trust.
A beneficiary is the person, other than the plan member, designated to receive the benefit resulting from the death of an employee, such as the proceeds of a life or accident insurance policy or benefits from a pension plan.
A person you name in your will, life insurance policy, retirement plan or other financial arrangement to receive a benefit at your death.
A person designated by an insuring organization as eligible to receive insurance benefits.
Any person, institution, trust, etc., named in a life policy to receive the policy benefits upon the death of the insured.
A person who receives the benefits from an insurance policy other than the insured.
1.A person who benefits from a trust set up on his/her behalf 2.Anyone who benefits from the proceeds of a will 3.A person who benefits from the proceeds of a life insurance policy In short, anyone who stands to benefit from a contractual or fiduciary relationship.
A person or organization designated to receive a share of the funds or other property from an annuity, insurance policy, retirement account, trust, will or other contract.
the individual, institution, estate or trustee named as the recipient of an individual's death benefits from sources such as insurance policies, pensions or other retirement plans, like a 401(k).
Literally, one who benefits. In a legal context, a "beneficiary" usually refers to the person for whom a trust has been created. It may also be referred to as a "donee" or as a cestui que trust. Trusts are made to advantage a beneficiary (i.e., a "settlor" or "donor" transfers property to a trustee, the profits of which are to be given to the beneficiary).
The person, group, or company designated to receive payments.
The beneficiary of a superannuation fund, annuity policy or RSA is the person to whom the benefit is paid. While in most cases this is the member/Annuitant/RSA holder, the term is most often used when talking about the person to whom the benefit can be paid in circumstances where the member/Annuitant/RSA holder has died. See ‘Dependant'. See section 10 of the Superannuation Industry (Supervision) Act 1993
A person named in an insurance policy to receive proceeds or benefits therefrom.
The person designated to receive the proceeds from a life insurance policy or the person designated to receive annuity benefits in case of the owner's or annuitant's death; also, the person who is to receive the benefits of a trust or estate. A beneficiary can be an individual, a company, or an organization.
A person who has been granted a benefit; and includes a person in respect of whom abenefit or part of a benefit has been granted
A person designated by a pension plan participant to receive all or a portion of the pension benefit after the participant dies.
A person or institution receiving a benefit or advantage from a will or other legal transaction.
The person or entity named in a life insurance policy to receive the proceeds.
The candidate or political committee deemed to have received the benefit from an expenditure. An expenditure made by a political committee on its own behalf shall list the expending committee as the beneficiary on the Schedule B form. An expenditure made to support another political committee or candidate shall be reported by listing that political committee or candidate as beneficiary.
the individual designated to receive the benefits, acts, gifts, or other property from someone else.A beneficiary is most commonly used to describe someone who has been determined as the person who will be bequeathed property in a trust or will.
The benefiting party who receives money upon the death of an immediate annuity contract holder. Also, the benefiting party who receives continuing payments upon the death of an immediate annuity contract holder. The benefiting party is determined at the discretion of the contract holder.
Term used to identify any individual eligible for Medicare benefits.
1. the person who benefits from a project, eg the trainees who completes a course. Frequently counted as a project output. 2. The organisation eligible to receive a grant and accountable for how it is spent.
As used in a trust deed, the entity that obtains the benefit of the security.
A person to whom a trust’s proceeds are distributed.
A person, trust or estate named by a member to receive benefits after his or her death.
A person who will receive insurance benefits.
The person or persons who will receive money upon the death of the original contract owner.
One way you can get a bond is to be the beneficiary on it. If the owner of a bond dies, the beneficiary becomes the owner.
Party in whose favor a letter of credit is issued, who is entitled to present documents required by the L/C and receive payment.
The person or organisation which is entitled to receive the benefits generated by an asset, where the asset is legally registered in the name of another party, such as a Trustee.
The Beneficiary is the person named by the Account Owner in the Account Application (or in a Change of Beneficiary form).
The recipient of the assets subject to a Will or Trust. Essentially the nominated receiver of the benefit from the proceeds of a Will/Trust usually specified in the documentation.
The person named to receive the income from, or remaining assets of, a trust
A beneficiary is a family member or other person that you have designated as the recipient of the payout from a life insurance policy in the event of your death. A beneficiary is also commonly referred to as a survivor, when speaking in terms of life insurance.
Any individual who is eligible, as either a participant, subscriber, or dependent, for health care services provided under a health plan, as defined in the benefit(s) package.
The person who is or will be the ultimate recipient of a benefit. Examples could be someone named to receive a legacy under a Will or an individual nominated to receive benefit from a trust fund.
The person(s) you designate to receive a benefit upon your death. A beneficiary can be any person, persons, or entity capable of taking and holding property. Depending on the insurance, retirement, and/or savings plans in which you are enrolled, you have a number of opportunities to designate beneficiaries. If you are a UCRP member, your beneficiary(s) receive a minimum of a $7,500 death benefit and any CAP balance. Designate your beneficiary(s) online or use form UBEN 116 (employees) or UBEN 117 (retirees, former employees and others). The beneficiary(s) of your Retirement Savings Program Plans receive any accumulations in your plans. Designate your beneficiary(s) online or by calling FITSCo. If you are enrolled in Basic Life, Core Life, Supplemental Life and/or AD&D, you may name beneficiary(s) online or use form UBEN 116. You may name different beneficiaries for each plan—except DC Pretax and After-Tax Plans, which must have the same beneficiary(s)—and you may name more than one beneficiary for each plan.
The Beneficiary is the person benefiting from the will, trust, insurance policy or other document.
The person or trust entitled to receive FSSP benefits upon your death.
A person that you designate to receive your Savings Plan account balance when you die.
The person(s) that you designate to receive your life and AD&D insurance benefits when you die.
A person that receives the benefit of a transaction, (e.g., a life insurance policy). A person for whose benefit a trust is created or who is named to receive gifts under a will. A beneficiary need not be a descendant or heir.
The recipient of benefits, as funds or property, from an insurance policy or will.
The person or entity named in a will to receive a devise or a legacy or the use of estate assets. Also, the person or entity to whom death proceeds of an insurance policy are payable.
A person who is eligible for or receiving benefits under an insurance policy or plan.
the entity that benefits from an action.
A recipient, which can be an individual or the owner's estate, of proceeds from a qualified retirement plan or insurance policy upon the death of the registered owner.
An individual who receives the benefit of a transaction, for example, a beneficiary of life insurance policy, a beneficiary of a trust, beneficiary under a Will.
A person, entity, trust or estate designated by a WRS member to receive a member's benefits upon the member's death.
A person entitled to any income or principal of an estate or trust or other contract (such as a life insurance contract or retirement plan). Beneficiaries can have present interests or future interests. An "income beneficiary" is a person presently entitled to some or all of the income of a trust. A "remainderman" is a beneficiary entitled to the balance of a trust fund only after another beneficiary has died (or the trust otherwise ends).
The beneficiary is the person named by the insured to whom the proceeds of a life or health insurance policy are payable.
The person or charity or company who is to receive the insurance money when the insured person dies.
In life insurance, the person who receives the proceeds of the insurance policy upon the insured's death.
Any person, estate, institution, or trustee that is now, or is going to be, eligible to receive benefits from a will, insurance policy, retirement plan, annuity, trust, or other business contract.
The person who receives the benefits or gifts from an estate, insurance policy, IRA, pension plan, or trust.
The named person who receives the benefits of the policy upon the death of the policyholder.
A person who will benefit from something, especially a Trust or a Will.
The person(s) named by you to receive any benefits provided by a Life Insurance and/or AD&D plan if you die. Benefits will be paid to the primary beneficiaries unless they have died before or at the same time or are unavailable. In this case, benefits will be paid to the contingent beneficiaries.
A person entitled to receive money or assets from a trust or an estate. A lender is a beneficiary with a deed of trust or a note as a security for a loan.
Person to whom the proceeds of a life policy are payable when the insured dies. The various types of beneficiaries are: primary beneficiaries (those first entitled to proceeds); secondary beneficiaries (those entitled to proceeds if no primary beneficiary is living when the insured dies); and tertiary beneficiaries (those entitled to proceeds if no primary or secondary beneficiaries are alive when the insured dies).
The holder of the instrument or document evidencing the obligations secured by the deed of trust, excluding persons holding the same as security for a different obligation. RCW 61.24.005(2).
The beneficiary of your insurance policy is the person selected by you to receive the policy benefits upon your death. You may designate that the benefits from your policy be allocated to multiple beneficiaries. And you may change your beneficiary designations at any time.
Whoever receives the benefit of the security. In a trust deed, the lender is the beneficiary.
The person the insured member designates to receive the insurance benefits in the event of the insured's death. The various types of beneficiaries are: primary beneficiaries (those first entitled to proceeds); secondary beneficiaries (those entitled to proceeds if no primary beneficiary is living when the insured dies); and tertiary beneficiaries (those entitled to proceeds if no primary or secondary beneficiaries are alive when the insured dies).
Person who is entitled to receive the benefits under a will or a trust.
The person or financial instrument (e.g., a trust fund) named in the policy as the recipient of insurance money in the event of the policyholder's death.
A party named in an insurance policy/certificate to receive the death proceeds or annuity benefits. Primary beneficiary: The party named to receive death proceeds or annuity benefits upon the death of the insured or annuitant. Contingent beneficiary: The party named to receive death proceeds or annuity benefits in the event the primary beneficiary predeceases the insured or annuitant.
The person or organization that receives the money from your life insurance policy when you die.
the person named to receive the death benefits.
The person who is entitled to receive further payments on the annuity should the annuitant die, where the agreement specifically contains a guarantee period and where death occurs prior to the end of the guarantee period.
Someone named to receive benefits from a legal device such as a will, trust or insurance policy.
The person who is entitled to receive funds or property under the terms and provisions of a will, trust, insurance policy or security instrument. In connection with a mortgage loan the beneficiary is the lender.
The person designated to receive funds under a will, trust or insurance policy upon the death of a testator, grantor or insured, respectively.
Beneficiary as it relates to a trust beneficiary includes a person who has any present or future interest, vested or contingent, and also includes the owner of an interest by assignment or other transfer. As it relates to a charitable trust, beneficiary includes any person entitled to enforce the trust. As it relates to a beneficiary under a beneficiary designation, it refers to a beneficiary of an insurance or annuity policy, an account with pay on death (POD) designation, a security registered in beneficiary form or a pension, profit sharing, retirement or similar benefit plan, or any other non-probate transfer at death. As it relates to a beneficiary designated in a governing instrument, beneficiary includes a grantee of a deed, a devisee, a trust beneficiary, a beneficiary under a beneficiary designation, a donee, appointee or taker in default of a power of appointment and a person in whose favor a power of attorney or a power held in any person, fiduciary or representative capacity is exercised.
A person, or organisation, who receives benefit from a will or trust. back
The person(s) designated by the Participant to receive a benefit under the Plan in the event of the Participant's death.
A person who receives a payment from a superannuation fund. This can be the member or her/his dependants in the event of the death of the member.
A person designated to receive money, property, or benefits in a will.
The person first entitled to receive any benefits under a contract upon the death of the annuitant and/or owner prior to the annuity period.
The recipient of assets passed on from the death of a friend or relative.
A person who receives benefits, funds or personal property from a will, contract, or insurance policy.
A person named to receive a benefit from a trust, will, or insurance policy.
A person who receives or benefits from a will, trust, or contractual property such as insurance, qualified plans, annuities, or transferable-(payable-)-on-death accounts.
The persons and/or organizations that receive trust property after the death of the trust grantor; also refers to those who receive property under a contract (such as an annuity or life insurance policy) through a beneficiary designation.
People who will become legally entitled to the benefit of goods or property on the death of the original owner. (see also Making a Will)
The person to whom the proceeds of a life insurance contract are payable at the death of the insured.
A person designated by a pension member to receive all or a portion of the pension benefit should the member dies.
A person entitled to benefit under a pension scheme.
A person entitled to receive a member's superannuation entitlements in the event of the death of the member.
A person who is entitled -- by law or bond language -- to claim against a bond even though not specifically named as an Obligee.
The recipient designated in the insurance policy as the receiver of the guaranteed payment in the event of the policyholder's death. Sometimes called the contingent payee.
Any recipient of the proceeds of a will or insurance policy.
A lender under a note secured by a deed of trust.
The person to whom the proceeds of a life insurance policy are payable upon the death of the insured..
For a Documentary Credit this is a payee or recipient, usually of money. The person to whom a documentary credit is addressed and who may benefit from it on utilisation. Also known as the Seller. For a Guarantee this is the party who derives the benefit of the Guarantee.
This is the person(s) you designate to receive the value of your pension when you die.
An individual or organisation that is to receive something from your Will.
The person who receives the benefit of a policy in case of death during the term or the policyholder who receives the benefit on maturity.
Someone who receives benefits or funds under a will or other contract, such as an insurance policy.
A person or party who benefits from a Will.
Any person or charity or institution.
In insurance, the person to whom the proceeds of an insurance policy are payable. The various types of beneficiaries are; primary beneficiaries (those first entitled to proceeds), secondary beneficiaries (those entitled to proceeds if no primary beneficiaries are living); and tertiary beneficiaries (those entitled to proceeds if no primary or secondary beneficiaries are living)
This is the person to whom the Death Benefits will be paid. ()
the person designated to receive the proceeds from a will, trust, or insurance policy.
An individual who receives income or property from the trust.
designation by the holder of a life insurance policy indicating to whom the proceeds are to be paid upon the insured's death or when an endowment matures
a person who receives a benefit under a will, or from a policy of insurance.
A person (or institution) who derives benefit from the creation of a trust, proceeds of insurance policy, or property designated by a will.
A person entitled to receive benefits from the trust. The trust's assets may be distributed outright to the beneficiary, or they may continue to be held in trust for the beneficiary.
Someone who will inherit from the Will, a trust or under the intestacy laws.
A person who receives benefits of any insurance plan or policy.
A person who is the designated recipient of specified funds.
A person 65 years of age and older, or a person with disabilities or end-stage renal disease, who is enrolled in the Medicare program.
The designated person entitled to the proceeds of your registered account when you die.
A person or organization named in a will to receive or use estate assets.
An individual, institution, trustee or estate that receives funds, property, or other benefits from a contract such as an insurance policy, a will, a retirement plan or an annuity.
The primary person receiving the benefit coverage. This information is maintained on the eligibility file of the plan sponsor.
The entity named to receive the death benefits from an insurance policy
A person who is entitled to receive a benefit from the Plan. The beneficiary will either be the member or their dependant(s)
An elderly or disabled person who receives Medicare health insurance.
The joint annuitant or any other person, estate, organization, or trust fund you designate to receive any benefits which may be payable upon your death.
A person or entity who is the recipient of or will receive some or all proceeds of money or property held by the current owner upon a specified event or condition. Such vehicles as life insurance policies, inheritances, annuities or trusts may require that a beneficiary be named.
The policy beneficiary is the person the policy will pay out to. It may be anyone designated by the policyholder. It is better to always name a beneficiary in your policy, as it will ensure that should you fall away it will pay out directly to that person.
The person who is designated by Policy Owner, from time to time, as the recipient of benefits upon the life insured dies.
a person (or organization or charity) who receives a benefit under a Will or financial plan such as a life insurance policy or annuity.
The person(s) or party that the policy owner names to receive the death benefit in the event of the policy owner's death. A primary beneficiary is the party that will receive the death benefit upon the death of the insured person. A contingent beneficiary is the party that will receive the death benefit if the primary beneficiary dies before the policy owner.
a person entitled to receive benefits from a trust, a will, an insurance plan, or any other legal plan
A person or organisation which receives a gift from the estate as set out in a will. Bequest: A gift, sometimes called a benefit as set out in a will.
A person receiving medical benefits under the Medicare or Medicaid programs.
The person or persons, or other entity designated to receive certificate proceeds.
The individual or other legal entity who will receive the death benefit proceeds of your life insurance policy upon your death. The primary beneficiary is the first person in line to receive the proceeds. A contingent beneficiary is an alternate beneficiary named in case the primary beneficiary is no longer living. The policy owner can change the beneficiary designation if the person (entity) was not originally named as an irrevocable beneficiary.
Individual, institution or organization that will receive the benefits of the Trust.
The person or charity who receives whatever you designate from your Will or Living Trust.
The person designated to receive the proceeds (death benefit) from the life insurance policy when an insured dies.
is a person who is entitled to receive part or all of the estate of a deceased person or the benefit from a superannuation plan annuity or pension.
Entity or person on whom a Letter of Credit has been opened or a draft has been drawn.→ Assignment of Proceeds → Transferable Letter of Credit
A person who is legally named to benefit from an insurance policy, will, deed, or trust.
Individual who is either using or eligible to use insurance benefits, including health insurance benefits, under an insurance contract. Any person eligible as either a subscriber or a dependent for a managed care service in accordance with a contract. An individual who receives benefits from or is covered by an insurance policy or other health care financing program.
The person you, the policyowner, designate to receive the insurance benefit when you die. (You may designate more than one beneficiary.)
A person designated by a member to receive a cash payment of a deceased member’s account or monthly benefit payments from STRS Ohio.
The person or persons you designate to receive payment of the death benefit upon the death of the Contract Owner.
The person or persons designated to receive payment of the death benefit upon the death of the insured.
A person eligible to receive a benefit after the death of a member or other benefit recipient.
A party who receives a legal benefit.
The person who is to receive the drug benefits
The person, persons or entity which will receive the death benefit of a life insurance policy upon the death of the insured. Policy holders often name family members or charities as their beneficiaries.
The person(s) or entity(ies) designated to receive the benefits under an insurance policy upon the death of the insured.
Any person or organization receiving a gift through will, trust, or by beneficiary designation in a life insurance, annuity, retirement plan or other contract.
The person or entity designated to receive the proceeds of an account when the account owner dies. See also Primary and Secondary Beneficiary.
Anyone who receives any benefit under a will, trust, insurance policy, or retirement plan.
1. A person for whose benefit a trust, an insurance policy, a will, or a contract promise is made; 2. A person who is entitled under a letter of credit to draw or demand payment.
Person, or organization, named to receive the financial proceeds of an estate, trust, annuity or other property.
Individual(s) identified to inherit specific property (e.g., beneficiaries are named on an insurance policy and retirement savings plans such as an IRA).
The person in whose favor a letter of credit is issued or a draft is drawn.
The person designated to receive proceeds of an insurance policy.
A person and/or organization that receives benefits from a trust.
The lender on a deed of trust.
The person or party the owner of a life insurance policy names to receive the policy benefit.
Person(s) for whose benefit the trust is established.
One for whose benefit a trust is created. (2) In states in which deeds of trust are commonly used instead of mortgages, the lender (mortgagee) is called the beneficiary.
The party who will receive the death benefit of the contract upon the insured's death.
A person who may become eligible to receive or is receiving benefits under a life insurance policy other than the insured or participant.
A beneficiary is the person or people who you decide should receive your lump sum after you die. [ Back to A to Z list
The person or party (lender) entitled to receive the benefits, or proceeds- ( to whom the obligation is owed).
A person receiving the proceeds of a trust.
The beneficiary designated by the member to receive GARS lump sum death benefits. This should not be confused with the Group Life Insurance beneficiary or the Deferred Compensation beneficiary.
The person, institution, trustee, or estate that you designate to receive benefits from your annuity or life policy if you die.
The person named to receive all or part of the proceeds of a Retirement Income Fund (RIF) in the event of the death of the annuitant or planholder.
A person or entity that receives a benefit from an estate, trust or asset transfer vehicle.
The person or financial instrument (for example, a trust fund), named in the policy as the recipient of insurance money in the event of the insured's death.
The person who is eligible to receive or is receiving benefits under an insurance certificate. This person is named by the certificate owner, who is usually the person insured.
Named on the back of the Employee Actuarial Form (P-1 form) who receives a lump sum distribution of pension contributions in the event there is no eligible survivor for a pension
The party who receives proceeds under an insurance policy, trust or will.
A person designated by a plan participant or by the terms of an insurance plan, who is or may become entitled to a benefit.
A person who receives a benefit or gift under a will, or a person for whose benefit a trust is created.
The person named in a Life or Disability policy as a recipient of a death benefit.
Any person named in a will, trust, insurance policy or other arrangement to receive money or property at the death of the owner or insured. Includes trusts and charitable institutions so named.
A beneficiary is usually a member of an employee's family who is covered by the employee-benefits plan and may receive benefits under the plan.
a person who receives benefits under a trust, policy or will.
the person(s) or organisation who receives payment from a superannuation fund in the event of death of a member.
Individual/charity receiving benefits from a trust or other charitable gift during its existence.
The person, persons or entity designated to receive the death benefits from a life insurance policy or annuity contract.
Person named in a will or insurance policy to receive money or property; person who receives benefits from a trust.
A person designated to receive some benefit from the trust estate.
The person(s) to whom the death benefit is paid in the event of the death of the annuitant or owner of an annuity contract.
The entity (relative, business, trustee, etc.) selected by the owner of the policy to whom the proceeds are payable in the event of the insured's death (See also Contingent and Primary beneficiary).
A Beneficiary is a person who has been left a legacy in a Will. This can be in the form of a specific legacy, a pecuniary legacy, a proportion of the residue, the whole of the residue or as a beneficiary of a trust.
This is the child who has been designated to receive the benefit of the RESP. It is important to note that to receive the CESG, this child must be a resident of Canada and must have a Social Insurance Number.
A person who is a recipient of a benefit.
Benevolent Society Benefits
The person(s) entitled to receive the proceeds if the event insured against occurs.
A person or organisation that will receive a gift in your Will
The main recipient of a benefit.
The person or entity that is recipient of funds, property or other benefits from a will.
The person designated to receive the benefits accruing from the funds in a trust account or an insurance policy.
An individual or entity named to receive some assets. Many different entities have beneficiaries, including trusts, retirement plans, annuities and trust savings accounts.
Term used to refer to the person who receives the benefits of a trust or the recipient of the proceeds of a life insurance policy.
An individual, company, organization, or other entity named in a trust, life insurance policy, annuity, will or other agreement who receives a financial benefit upon the death of the principal. A beneficiary can be an individual, company, organization, etc.
A person eligible to receive benefits under an insurance policy. Binder (Or Binding Receipt) - In lines other than life and (usually) health, a binder is an acknowledgment (usually from the agent) that the insurance applied for is in force whether or not premium settlement has yet been made or the policy issued. In life and health insurance, binders are not issued, but if the premium settlement is made with the application, what is often erroneously referred to as a binder or "binding receipt" is issued. Actually, this is a conditional binding receipt.
The person who is in receipt, or will be in receipt, of some asset, thing, or thing of value. For example, a person can make a will naming someone, usually their spouse, as beneficiary of their estate.
Someone who is entitled to receive distributions of property from a will or trust.
A person who is, or will be, a recipient of benefits from a will, an estate, or a trust
A lender or mortgagee receiving funds from the borrower or mortgagor.
The recipient of the benefit of a life insurance policy, chosen by the insured. It can be a family member, for example, or in the case of key man life insurance, it can be the business.
A person named to receive a benefit in a will, life insurance policy, retirement plan, or other financial arrangement upon death.
The person(s) named in the policy to receive the life insurance proceeds upon the death of the insured.
The person designated to receive the income from a trust, estate, or a deed of trust.
A person or entity who is entitled to receive the benefits from an insurance policy.
An individual or institution designated by contract to receive benefits upon the death of another person. For example, an In Trust For (ITF) accountholder names a beneficiary to whom the account will be paid in the event of the depositor's death. See In Trust For (ITF) account.
The person named in an insurance policy as the recipient of the proceeds of the policy. Also refers to any person eligible as either a subscriber or a dependent for a managed care service in accordance with a contract.
An individual eligible to benefit upon a members death, for example a spouse, dependent or nominated beneficiary.
the person(s) or trust to whom a share of a deceased participantâ€(tm)s account balance is payable.
The person designated as the recipient of the death benefit.
Entity to whom money is payable. The entity for whom a letter of credit is issued. The seller and the drawer of a draft.
In a Trust Deed, the lender is designated as the beneficiary. He obtains the benefit of the security.
means the receiver of benefits accruing from the implementation of a pest management measure or the Strategy.
A person over 65 or under 65 with Social Security Disability Insurance who receives health insurance through the Medicare program.
A person who receives money or property from a trust or under a will.
Person eligible for benefits under the Medicare program
A named individual or organisation who benefits from your Will.
A person, persons or trust designated to receive the plan benefits of a participant in the event of the participant's death.
The person or entity designated or provided for by an insurance policy's terms to receive any benefits provided by the policy or plan upon the death of the insured.
(see also Consumer, Enrollee, Member, Subscriber): An individual who receives benefits from or is covered by an insurance policy or other health care financing program.
means a person for whom funeral services or supplies, or both, are to be provided under a contract or prepaid contract; (bénéficiaire)
The person in whose favor a draft is issued or a letter of credit opened.
Someone named to receive property or benefits in a will. In a trust, a person who is to receive benefits from the trust.
the person waiting for the annuitant to die, this is the only way they can prosper. The beneficiary, like the annuitant, has no say or control in the management of the policy. Though, the policy can name trusts, corporations, trusts or partnerships as beneficiaries.
A person who receives benefits under a dental plan benefit contract.
One who receives benefit of trust or property
Person named to receive property or benefits.
An individual or organization that receives an interest in property or funds from an estate, a trust, or a contract such as a life insurance policy or employee benefit plan.
The person or persons designated by a policyholder to receive insurance policy proceeds.
Someone designated to receive something from a legal arrangement.
A person who has any interest in a trust. Property in a trust is held and administered for the benefit of persons named in the trust instrument (who are the beneficiaries).
person receiving an immigration benefit as a result of an immigration petition filed on his/her behalf.
a person entitled to benefit from a trust, a will, an insurance policy, an education savings or other savings plan.
A person for whose benefit a trust is created or who receives benefits from property. Those giving by will are usually called beneficiaries.
The individual or entity designated to receive a life insurance or annuity death benefit upon the death of the insured or the annuitant.
The person in whose favour the guarantee is issued
a person or other entity which will receive a benefit (asset, valuable right) through a will, trust, or contract.
The recipient of a bequest from a will or a distribution from a trust.
The recipient of benefits, usually a lender, and often from a deed of trust.
The name for a person who has health insurance through the Medicare program.
The joint annuitant or any other person, estate, organization, or trust designated by an FRS member to receive any benefits that may be payable upon the memberâ€(tm)s death.
a person benefiting from a bequest in a will
A person who receives payment (coverage) from a health care plan.
The person(s) or entity(ies) designated by the owner to receive the death benefit. (See also: contingent beneficiary, irrevocable beneficiary, primary beneficiary, and revocable beneficiary) Return to Previous
means the person or persons you mention in your will and who you want to benefit under your Will.
Person or persons designated by the employee to receive benefits in the event of his or her death.
A person who is left something in a will or a person for whose benefit property is held by a trustee.• Death• Divorce
A person named to receive a benefit from a trust. A contingent beneficiary has conditions attached to his rights; usually someone else must die first.
a person named by the participant to receive insurance or retirement plan benefits when the participant dies. Also, anyone who may receive benefits under an employee benefit plan.
A person, estate or other body to whom a benefit has become payable.
(1) The person for whose benefit a trust is created. (2) The person to whom the amount of an insurance policy or annuity is payable.
In philanthropic terms, the donee or grantee receiving funds from a foundation or corporate giving program is the beneficiary, although society benefits as well.
For inheritance tax purposes, a beneficiary is a person or organisation which receives property, or gets some benefit from, a will, intestacy or trust.
Anyone eligible to receive a benefit from a health insurance policy.
A person designated by the policyholder to receive a specified payment upon the insured's death.
The lender or person to who the obligation is owed.
The inheritor of a trust. The lender on a note and trust deed transaction.
This is the person you designate to receive the death benefit when you the insured dies.
The beneficiary is the receiver of the delivered value.
The person who is to receive the insurance proceeds at the death of the insured.
Someone who may be named in a particular legal document or insurance policy that will receive a benefit from the policy if a claim is made
A person who is left something in a will; a person for whose benefit property is held by trustees or executors.(q.v.)
The person or party entitled to receive the benefits, or proceeds, of the life insurance policy upon the death of the insured person.
A person who can receive benefits under a health care plan.
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a person who inherits from a will.
The person or other party designed to receive life insurance policy proceeds.
The individual who receives, or may become eligible to receive, the benefits of a college savings plan.
a person for whose benefit assets are being held. Beneficiaries of a superannuation fund are the members and their dependants.
A person or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan.
An individual who is, or will be, a recipient of benefits from a trust, gift or bequest.
A person entitled to receive a share of the estate.
The individual or company which is entitled to receive the benefits generated by assets not registered in their name, such as those of a Trustee.
An organisation or person for whose benefit assets are held by another organisation or person. Beneficiaries of a superannuation fund are the members and their dependants.
A person or organization entitled to receive benefits under a legal document such as a will or trust. Except when very small estates are involved, beneficiaries of wills only receive their benefits after the will is examined and approved by the court. Beneficiaries of trusts receive their benefits as provided in the trust instrument.
Person(s) designated to receive the benefits of an insurance policy when the insured dies.
A person (or organization or charity) who receives a benefit (such as a life insurance policy or annuity) or gift under a will.
The beneficiary is the person who benefits from the trust. In the case of a special needs trust for tort victims, the beneficiary is the tort victim.
One who is named in a Will to receive property - - one who receives a benefit or gift under a Will.
The individual named in the insurance policy to receive the benefits at the time of death of the insured.
This is a person who is entitled to receive benefits from a superannuation fund. It may be a member of the fund, dependant, executor upon death or some other person.
One for whose benefit a trust is created, such as a lender whose loan is secured by a deed of trust. Back to the Top
A person who receives the benefits from the gifts or acts of another, such as one who is designated to receive the proceeds from a will, insurance policy or trust.
The term beneficiary is used in two senses. Under the annuity contact the annuitant owner of the contract is the casualty insurer. The CCRA interpretation bulletin states, “the casualty insurer is the owner of, and annuitant (beneficiary) under, the annuity contract…â€The term beneficiary is also used where a plaintiff dies before the end of a guarantee period. The beneficiary is entitled to receive the annuity payments until the end of the guarantee period. In practice, casualty insurers do not allow the naming of a beneficiary in the annuity contract; rather, the plaintiff’s estate receives the continuing benefits, and the plaintiff leaves a will to designate a beneficiary.
This is the person who is named by the policyholder to receive the death benefit of the life insurance policy.
A person who receives benefits or advantage (for example, money from an insurance policy).
A person who receives benefits from the gifts or acts of another, as in the case of one designated to receive the proceeds from a will, insurance policy, or trust; the real owner, as opposed to the trustee who holds only legal title. With a trust, the trustee holds the legal title, but the beneficiary enjoys the benefits of ownership.
A person who receives the benefits of a trust or of transfers under your will.
A Beneficiary is the person or company lending the money to the Borrower. It is the Beneficiary who receives payments from the Account Servicer and, upon the full repayment of the Principal Balance, will release the lien.
The person designated to receive tangible assets such as the proceeds or benefits from an estate or insurance policy.
The recipient of an inheritance, annuity or life insurance proceeds; or person designated to receive income or principal from a trust.
A person or corporate entity entitled to receive money or assets from a trust or an estate under a will.
The person or persons you name to receive death benefits. You can name anyone you choose as your beneficiary for your life and accident insurance benefits. (In the event of a dismemberment claim, you are the beneficiary.) You can name more than 1 beneficiary, and you can change your beneficiary designation whenever you like.
Beneficiary is the person who will receive the death benefit (amount of money) of a life insurance policy when the insured person's dies. By naming a beneficiary, the money is protected from creditors. A beneficiary under the age of 18 needs to be represented by a legal individual guardian or a public official who represents minors generally. A policy owner can appoint someone to act as a trustee for a minor in the designation of a beneficiary.
A person named in a life insurance policy, annuity, will, trust, or other agreement to receive a financial benefit upon the death of the owner. A beneficiary can be an individual, company, organization, and so on.
The person designated to receive the funds or benefits from a trust; the lender in a deed of trust.
A payee or recipient, usually of money. A party in whose favour a documentary credit is established, usually the exporter.
The beneficiary (or beneficiaries – you can have a primary and secondary) named in your policy to receive policy proceeds after your death.
You and your dependents who are entitled to receive benefits under a plan.
Lender named on the mortgage note. One entitled to the proceeds of property held in trust, also proceeds of wills, insurance policies, or trusts.
The person(s) designated by the employee to receive survivor benefits under the term life insurance and accidental death and dismemberment insurance plans. The form to name a beneficiary can be found on HRS Document Express under Insurance Forms.
The person named to be the recipient of the proceeds from the life insurance policy, following the death of the insured person.
The person designated to receive proceeds or benefits as of a trust, estate or life insurance.
The creditor party under a deed of trust in whose favor the deed of trust is granted.
The person or persons named as the recipient(s) of any benefits paid through a life insurance policy.
An individual entitled to a death benefit under the terms of a pension plan.
Someone who gets something from a trust. A person who gets money from a trust is called an income beneficiary. A person who gets property from a trust is called a remainder beneficiary.
A person entitled to or in receipt of a benefit under a fund, which is normally the member and his/her dependants.
Any person eligible for TRICARE benefits who is receiving care; the patient.
A person eligible to receive Medicare benefits.
The person who receives the proceeds or benefits from the insurance policy.
An employee covered by an employee benefit plan
The person(s) named in a life insurance policy to receive the proceeds of the life insurance upon the death of the insured.
A natural person who is entitled to receive all or part of a benefit payment. The beneficiary may or may not be the recipient.
One for whose benefit a contract is made; the person to whom-a policy of insurance is payable.
An individual, institution, trustee, or estate which receives, or may become eligible to receive, benefits under a will, insurance policy, retirement plan, annuity, trust, or other contract.
The person(s) or entity in whose favor a credit is issued. In Trade Letters of Credit it is usually the seller of merchandise.
A person designated to receive the income, principal or proceeds of a trust, estate, insurance policy or retirement plan
A person who acquires or is going to acquire benefits from indisputable events. Example : The beneficiary on a mortgage loan is the lender.
The person or financial institution that you name in a life insurance policy to receive the proceeds.
This is the person who benefits from something. The term is most commonly used for someone who receives income from a Trust or from the Estate of a deceased person.
The lender under a Deed of Trust.
A person who has been formally designated in writing by a plan member to receive any benefits from the plan payable upon the death of the member.
The individual(s) that will receive payment in case of death upon the insured
A person entitled to a benefit under a will or trust.
The person or legal entity the owner of an insurance policy names to receive the policy benefit if the event insured against occurs. See also annuity beneficiary, contingent beneficiary, and irrevocable beneficiary.
A person you have designated to receive benefits when you die.
(1) One who inherits a share or part of a deceased's estate; or (2) one who is the recipient of an interest under a trust; or (3) one designated as recipient of the proceeds under a life insurance policy.
A beneficiary is the individual who is entitled to receive the value of the plan upon the death of the life insured or annuitant. Beneficiaries are designated when you become a policyholder of any life insurance, segregated funds and/or accidental death & dismemberment plans. If the beneficiary is of a certain family class, for example, spouse, parent or child, or is named irrevocably, the plan may be exempt from seizure by creditors or a trustee in bankruptcy. You can name an irrevocable beneficiary. If this option is chosen you will generally need to obtain the written consent of the irrevocable beneficiary to make changes or otherwise deal with your policy. Where a minor is named irrevocably, this consent may be impossible to obtain.
The person entitled to collect the benefits of an insurance policy or for whose benefit property is held in trust.
Primary beneficiary: Under provincial pension legislation, a member’s qualifying spouse is the member’s primary beneficiary for HOOPP benefits, and will receive spousal benefits upon the member’s death. If the member has no spouse, or spousal benefits have been waived, the member can name any person, person(s), organization, or his or her estate as primary beneficiary Secondary beneficiary: If the member’s spouse is his or her primary beneficiary the member can name a secondary beneficiary. The secondary beneficiary – a person, person(s), organization, or estate – will receive any death benefit payable from HOOPP after both the member and spouse have died.
A person or entity that receives any benefit from a trust or estate.
A person designated to receive the assets remaining in an account following the designator's death. Also referred to as primary beneficiary. (See also "contingent beneficiary.")
One who "benefits," usually the recipient(s) of income from a gift with lifetime income, or recipients to a pension plan or life insurance policy.
The individual or corporation that receives the benefit of a transaction, e.g., a life insurance policy beneficiary, a trust beneficiary under a will.
The designated person set to receive the death benefit if the insured should die.
A person or entity that receives the benefit of something. Generally,a person who has the right to the income from a trust deed or mortgage note.
The person to whom the assets should be distributed upon the death of the accountholder.
a person who benefits under the terms of a will or a trust.
a generic term that usually refers to a person or entity that is entitled to receive something, for example, a beneficiary of an IRA or a life insurance policy.
Person/s who benefit from a trust.
Any person or organisation to whom you wish to leave a legacy or bequest (gift) in your Will.
The person designated to receive the benefits accruing from the funds in an account or insurance policy upon the death of the primary owner.
The lender in a trust deed financing arrangement.
A person entitled to benefit from a Will. Also a person entitled to receive the proceeds of a trust, RRSP or life insurance policy.
The person designated to receive income from an estate, trust, or a deed of trust.
A person entitled to all or part of an estate under a trust. Such trusts may arise under a settlement, a will or intestacy, an insurance policy and similar arrangements.
A person entitled to benefit under a trust or will.
A person who may become eligible to receive or is receiving benefits under an insurance policy other than a participant. See also Irrevocable Beneficiary, Revocable Beneficiary, Primary Beneficiary, Secondary Beneficiary, Tertiary Beneficiary, and Contingent Beneficiary.
The individual or corporation who receives the benefit of a transaction; e.g. beneficiary of a life insurance policy.
An individual designated in a will to receive an inheritance, or the individual designated to receive the proceeds of an insurance policy, retirement account, trust, or other asset upon the death of another individual.
The person named in a Will or Trust to receive property from the maker of the Will or Trust.
As used in a Trust Deed, the Beneficiary is the Lender.
A beneficiary is a person or an organisation who will benefit from your Will, by being left either a specific gift or an amount of money in your Will. A beneficiary may also act as an EXECUTOR, but SHOULD NOT BE A WITNESS to your Will.
the person who will benefit from the money we hold. In the case of children’s funds, this will be the child involved in the case.
The recipient of funds, property, or other benefits, as from an insurance policy or will. The person or people who will receive the assets of the trust upon the trustor's death.
A person who gains a benefit --- usually referring to an amount or asset bequeathed by a will.
A person named by the participant in an insurance policy or retirement plan to receive any benefits provided by the plan if the participant dies.
The person or organization who will be receiving the benefits from a trust, an inherited retirement account, or the proceeds from a life insurance policy.
The person who is receiving Medicare benefits and services.
A beneficiary is an entity entitled to receive a benefit from a qualified retirement plan upon the death of the participant. A primary beneficiary will be entitled to benefits as long as he or she does not predecease the participant. A contingent beneficiary will be entitled to benefits if the primary beneficiary predeceases the participant and another primary beneficiary has not been named.
A natural person or a legal entity enjoying the right to receive benefits through a legal design (i.e. a Trust, Private Foundation, an International Business Company)
The person named in the policy to receive the insurance proceeds at the death of the insured. A secondary or contingent beneficiary will receive the proceeds if the primary beneficiary cannot collect.
The person who is to receive the benefits from a trust fund.
A person who benefits from a life insurance policy, will, contract or deed of trust. The lender is the beneficiary in the case of a deed of trust.
The person or entity (for instance, a trust) named in a life insurance policy as the recipient of policy proceeds in the event of the policyholder's death.
The person designated to receive the claims.
The party to whom the proceeds of a life insurance policy or the values of an annuity policy are payable when the insured or annuitant dies. There are, however, various types of beneficiaries, including the following which are defined in this glossary: · contingent beneficiary · irrevocable beneficiary · primary beneficiary · revocable beneficiary
a person to whom the proceeds of a life or accident policy are payable when the insured dies.
A person entitled to receive income and capital distributions from a trust and for whom the assets of the trust are held on behalf of the trustee, or a person entitled to receive a benefit from a superannuation fund if you die while still a member of the fund.
A person who receives the benefits or advantages from something such as insurance.
An individual(s) or institution(s) who is to receive real or personal property from a trust upon the terms set forth in the instrument or declaration of trust.
A person or entity designated to receive a predetermined portion of an individuals account upon death of the account owner.
See Deed of Trust.
The designated recipient of assets, such as the proceeds of an insurance policy or trust.
A person or entity entitled to receive the retirement proceeds when the plan participant/IRA holder dies.
Person chosen by the annuitant to receive the proceeds from the annuity in case of the annuitant's death.
The person who hopes to benefit from an immigrant petition. In an employment case, the worker is the beneficiary. In a family case, the relative trying to get a green card is the beneficiary. See Petitioner.
Someone who receives a benefit from someone or something. This term usually refers to a person who receives income or capital from a trust or the Estate of a deceased person.
An individual or entity named to receive a gift. Several financial and legal vehicles have beneficiaries, including trusts, retirement plans, annuities and trust savings accounts. Gospel for Asia may be named as your beneficiary, which can facilitate your giving after your death.
The person or entity designated to receive the proceeds of an account in the event of the owner's death.
the party who receives proceeds (in most annuity contracts) if owner or annuitant dies. ommuted Value: the present value of future guaranteed payments.
The designated recipient of the life insurance benefits or proceeds upon the death of the insured. Choosing the beneficiary is the policy owner's right and responsibility.
refers to the individual who benefits from a petition by becoming qualified to make an application for a green card or visa.
The individual or entity receiving the funds transfer.
Any person, persons, or other entity designated to receive the policy benefits upon the death of the policyholder.
the person or people you name to receive the proceeds of an insurance policy when you die. It may also be your estate, but this is not recommended. When children are being considered as beneficiaries, a trustee should be appointed.
means a person designated by a participant, or by this Plan if there is no effective designation, to receive benefits payable under this Plan in the event of the participant's death.
An individual named as the recipient of the income or principal of an estate or trust.
A person who will inherit part of your assets or estate under a Will or on intestacy.
Someone who is named in the will to receive some benefit under the will
The person who is receiving a benefit.
The person who receives life insurance proceeds at the death of the insured, or who is named in a will to receive an inheritance.
The person(s) named in a life insurance policy to receive the death benefit when the insured person dies. People often name a secondary, or contingent, beneficiary in case they outlive the first beneficiary.
A beneficiary is the person named by the owner of an insurance policy to receive any benefits provided by the plan if the participant dies.
The party or parties you designate as the recipient(s) of the proceeds from certain assets you may have, including a life insurance policy, an annuity, a retirement account, or a trust. Beneficiaries are usually noted in your will. The beneficiary (or beneficiaries) has first rights to receive the benefits of a life insurance policy/annuity following the death of the insured/annuitant.
The lender who makes a loan, also called a mortgagee. The person borrowing money is the mortgagor.
The person or organization legally entitled to receive gifts made under the provisions of a legal document such as a will or trust.
The alien who will receive the immigration benefit from the filing of a petition on his or her behalf by either a family member who is an American citizen, or Green Card holder, or by a company making an appropriate job offer.
The person(s), company, trust or estate named by the grantor, settlor or creator to receive the benefits of a trust in due course upon conditions which the grantor established by way of a trust deed. An exception would be the fully discretionary trust. The beneficiary could be a charity, foundation and/or person(s) which or who are characterized by classes in terms of their order of entitlement or their hierarchy.
An individual named by the Subscriber who will receive Educational Assistance Payments if the individual qualifies for these payments under the terms of the plan.
A generic term that usually refers to a person or entity that is entitled to receive something. This may include a beneficiary of an estate or trust, or a beneficiary of life insurance or retirement benefits.
the person who receives property under a will, trust or insurance policy.
The person(s) or entity(ies) designated to receive an insurance policy's death benefit. The various types of Beneficiaries are: Primary Beneficiaries (those first entitled to proceeds); Secondary Beneficiaries (those entitled to proceeds if no primary beneficiary is living when the insured dies); and Tertiary Beneficiaries (those entitled to proceeds if no primary or secondary beneficiaries are alive when the insured dies).
One receiving a benefit or advantage from, e.g., a will or an insurance.
The person who is named to receive benefits from, a retirement fund, life insurance policy or will.
The person, organization or trust that will receive the benefits payable upon death of a life policy.
A person who receives and benefits from the gifts or acts of another; one who receives the proceeds from a will, insurance policy, or trust; the lender in a deed of trust.
A person designated by a participant or one who, by the terms of the plan, is or becomes eligible for benefits under the plan.
A person for whose use and benefit property is held by another, such as by a trustee or an executor.
Also known as Member, Enrollee A person eligible to receive insurance or health coverage benefits. Frequently used in connection with the Medicare program.
One legally entititled to a benefit.
A person who is eligible to receive insurance benefits. Back to the top of the page
A person entitled to insurance benefits under the insurance plan; a patient.
The party to whom funds are payable under a Documentary Credit.
is the person named in a policy as the recipient of the insurance money in the event of the insured's death.
A person or organization who is to receive a benefit. The benefit may flow from an insurance policy or another contract, from a trust, or from a will.
A person who receives a benefit, such as the income of a trust or proceeds from an entity.
The recipient of a devise or a bequest, or person entitled to benefit under a will.
Person, charity, or institution that you name to recieve your allowance or pensions upon your death Board Members - a group of 5 people made up of 2 elected members, 2 appointed members and 1 member Executive Director-officio
The person(s), estate, or financial instrument (for example, a trust fund), named in the policy as the recipient of the guaranteed payment in the event of the policyholder's death. Also known as contingent payee.
Anyone who might benefit from the activity of a charity. Could, for instance, be receiving advice, care, financial support. One type of stakeholder.
The person(s) designated by the annuitant to receive money upon the death of the annuitant and/or joint annuitant if death occurs before the end of the annuity term. The annuitant decides who the beneficiary will be and the beneficiary can generally be changed at any time.
A person or organisation legally entitled to receive benefits through a legal device such as a Will, Trust or Life Insurance Policy.
Any person entitled to share in an estate.
The person designated by the insured to receive Group Life and/or Accidental Death Benefits upon the death of the insured.
The person and/or organization who obtain the benefits of the trust.
The person who is to receive the benefits of a fund or service or thing.
Person(s) designated by the insured(s) that would receive the proceeds of an insurance policy upon death of the insured. You would typically assign a beneficiary at the time of completing the policy application.
The person who receives or is to receive the benefits resulting from certain acts.
This is a person who is getting pension benefits , or will do so when a particular event happens.
(other than pension partner) The person(s) you name to receive a benefit if you die before retirement or the remaining pension payments under any guaranteed term. If you do not have a pension partner and you do not name a beneficiary, your estate is your beneficiary.
A person or organization entitled to receive a portion of the estate.
Either: an individual or company who, on the death of another individual, receives financial benefit; or a person entitled (as the real owner) to enjoy the benefit of property or goods of which the legal title may be vested in a trustee, eg. a superannuation trustee holds legal title to the assets of a fund but the fund members are the beneficiaries.
under a will, trust, or insurance policy, the person who is to receive property
A person who is entitled to receive a distribution of money or other property. For example, the beneficiary of a trust receives money from the trust. The word "beneficiary" is also used to mean someone who inherits under a will, even though the formal legal term for that is "devisee."
Anyone designated to receive money, property, or possessions in your will.
A person who is entitled by a will, trust or insurance policy to receive money or property.
One who receives the proceeds of a trust, retirement plan, or life insurance policy.
The person to whom death benefits are paid when the owner of an annuity dies.
The person you name to receive benefits upon your death.
A person who is named to receive benefits, for example in an insurance policy.
The Beneficiary is the person who receives the benefits when the insured dies.
The person or party designated to receive life insurance policy proceeds. The beneficiary's interests are usually subject to the interest of a collateral assignee, if any. See also Contingent Beneficiary, Irrevocable Beneficiary, and Primary Beneficiary.
person or institution who receives some benefit, whether money or property, from the Will of a deceased person.
A person who is eligible to receive benefits under a health benefits plan. Sometimes "beneficiary" is used for eligible dependents enrolled under a benefits plan; "beneficiary" can also be used to mean any person eligible for benefits, including both employees and eligible dependents.
A person benefiting under a Will or intestacy
An individual or corporation that stands to benefit financially from a will, trust, gift, insurance policy, pension, charity or bequest.
A beneficiary is someone you designate to benefit from your estate. A beneficiary is legally entitled to his share of your property only after you die.
The beneficiaries of a will are those designated to take an interest in real or personal property. The beneficiary may be a person or a trust.
A person or organization listed in a document such as a will or trust who is to receive something of value such as money or property stated in the will or trust.
The person named in a life insurance policy to receive the insurance money at the death of the insured.
A person or persons who "benefit" by receiving the payments of a policy holder who has died. This is also referred to as a "contingent payee."
is the person who receives the proceeds of an insurance. The beneficiary can be different from the insured and the policyholder.
The recipient of benefits, often from a deed of trust (usually the lender).
The trust, person(s), company or estate named by the grantor or creator to receive the benefit's of the trust.
a person who receives payment from an RESP; the student.
A person who receives health care benefits.
An individual or individuals, corporation, or trust that is entitled to receive the policy proceeds of an insurance policy in the event that the insured is deceased. Beneficiaries can be named in a number of different ways including primary, contingent, tertiary, revocable and irrevocable to list a few.
A person other than a participant who may become eligible to receive, or is receiving, benefits under an insurance policy.
The person designated to receive the death benefit when the person insured by the policy dies.
A person who receives property and proceeds at another person's death.
The person(s) or entity(ies) receiving the proceeds of a life insurance policy when the insured dies. See Primary Beneficiary Contingent Beneficiary. Back to the top of the page
A person who is entitled to receive distributions of income or capital from a trust, in accordance with the provisions of the trust deed.
The policy's death benefit goes to this person after the insured dies.
A "beneficiary" is a person who receives benefits from a will or trust. For example, if you leave one of your valuables to your child, that child is a beneficiary.
Anyone who benefits from a will, trust or insurance policy.
A person or organisation who is entitled to receive a gift from a will or a beneficial interest under a trust.
The person named to receive benefits upon the death of a participant or alternate payee.
A lender who loans you money to buy a home. A lender, usually a bank, is called a beneficiary in certain states. The beneficiary holds onto the deed of trust, which acts as a guarantee that you will repay your loan. If you fail to pay your loan (default), the beneficiary can give the trustee – the neutral third party who acts on behalf of the beneficiary – permission to foreclose on your property.
The person for whose receives the benefits from a trust, or the proceeds of a life insurance policy.
The person(s)/Estate that you designate to receive Life Insurance, Accident Insurance and/or pension benefits upon your death.
A person who receives funds, property, or other benefits from a will, contract, or insurance policy.
The person indicated in a trust or insurance policy to receive any payments that become due.
Someone who benefits by receiving money from an insurance policy, will, or trust fund.
A person who is entitled to part or all of an estate left by the death of another person.
The person or party that will receive the proceeds from a life insurance or an annuity contract.
The person or persons who will be paid life insurance benefits under the policy due to the insured's death.
The person to whom a life policy is payable when the insured party dies.
An individual or organization that receives funds from any source. Also referred to as recipient or endowment holder within this site.
1. In the case of a letter of credit, the individual or company who is entitled to draw or demand payment under its terms. 2. In the case of insurance, the person entitled to take the proceeds. 3. The person for whose benefit a contract, or trust, or will is executed or enforced.
The person designated to receive payments due upon the death of the annuity owner or the annuitant.
A person who benefits from a life insurance policy, will, contract or deed of trust. In the latter case, the lender is the beneficiary.
a person, entity, or estate you designated to receive benefits following your death
The person or persons designated by the insured to receive survivor benefits under the term life insurance, the personal accident insurance, and the retirement plans.
One who benefits from the act of another beneficiary under a will; income beneficiary. One who receives an advantage, recipient, donee, inheritor, legatee, receiver, cestui qui trust, heir, grantee, winner, and pensioner.
The individual/s designated in the policy to receive the death benefit when the insured dies.
A person who receives something from your estate.
The person entitled to receive benefits under a plan, including the covered employee and his or her dependents.
The person(s) designated by the employee to receive survivor benefits under the term life insurance, accidental death & dismemberment insurance, and the retirement plans.
An individual named in a will who is designated to receive all or part of an estate upon the death of a will maker.
The person or persons designated in writing to receive any lump sum death benefits payable under the CAAT Pension Plan. If the Member has a Spouse, that person is the Beneficiary, as long as the two are not living separate and apart.
The person or company you choose to receive your money after death.
The person entitled to the benefit of a trust. In a trust deed, the beneficiary is the creditor who is secured and for whose benefit the trustee holds legal title.
A) One who inherits a share or part of a decedent's estate; or B) One who takes the beneficial interest under a trust. (For income beneficiary see "life tenant.")
The person or persons named in an insurance policy to receive the life insurance proceeds upon the death of the insured.
The person or persons for whose benefit a trust is created.
The person(s) or entity(ies) (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the insured.
The person (or in some cases the estate) named to receive the value of an insurance policy, trustee account or investment account.
One entitled to the benefit of a trust: as used in a trust deed, the lender is designated as the beneficiary, i.e., obtains benefit of the security.
One who receives or is designated to receive assets from a will, insurance policy, trust, retirement plan, etc.
A person who is the ultimate recipient of money or banking metals under a payment operation, and to whose account money or banking metals are credited. A beneficiary is also a person in favor of whom an issuer opens a letter of credit, or a person who benefits from a trust set up on his/her behalf, or a person receiving income or payment under a bill.
A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity or other contract. Someone covered by Medicare is also called a beneficiary.
A person or entity named in a life insurance policy, a qualified retirement plan, or an annuity, or one who is eligible by the terms of such a policy or plan, to receive benefits upon the death of the insured or the plan participant.
(1) The person for whom a trust operates or in whose behalf the income from a trust estate is drawn. (2) A lender in a deed of trust loan transaction.
a) The exporter who benefits from the credit through the negotiation of documents for cash; and b) A person receiving benefits, income or inheritance.
The individual or company who can legally receive the benefits generated by assets not registered in their name, such as those under a Trustee.
A beneficiary is a person designated as the recipient of money or property under various types of investment vehicles, including IRAs, annuities and trusts.
One who benefits from an insurance policy, will or deed or trust.
The person (or persons) a member has nominated to receive their superannuation benefits in the event of the member's death. The person must be either a related dependant or a financial dependant or the member's legal personal representative. It is important to note that AustralianSuper will consider a member's preferred beneficiary but will take into account all relevant circumstances at the time. This means it may not pay a member's benefit strictly in accordance with the information the member has provided. Compare with Binding Death Benefit Nomination.
When referring to AustralianSuper insurance, beneficiary means: the person/s a member has nominated to receive their superannuation benefits in the event of the memberâ€(tm)s death. The person/s must be either a related dependant, financial dependant or interdependent. It is important to note that the Fund will consider a memberâ€(tm)s preferred beneficiary/ies but will take into account all relevant circumstances at the time. This means it may not pay a memberâ€(tm)s benefits strictly in accordance with the information the member has provided.
The person or party the owner of an insurance policy names to receive the policy benefit if the event insured against occurs. See also contingent beneficiary, irrevocable beneficiary, primary beneficiary and revocable beneficiary.
the person named as such in a will or insurance policy. A beneficiary may also be the equitable named person under a trust, where the legal owner is the trustee
An individual, institution, corporation, or charitable organization that receives benefits granted to him/her/them by another. As examples, an heir is given money in a will, a person who is named to receive the monies from a life insurance policy, or the income from a trust, estate, or a deed of trust. Bill of Sale A written document that transfers title to personal property in a transaction.
An individual who becomes entitled to a benefit upon the death of the policy or plan holder. Applies to life insurance, will, and registered account proceeds.
Person named in a document, such as a will or insurance policy that receives a benefit.
a person who is entitled to the balance in an account upon the death of the owner (trustee) of the account
The beneficiary is the person who's entitled to the assets of the account.
The person or company that receives your money.
An individual or organisation who will receive a gift in your will.
A beneficiary is the person who is the recipient of a payment in the form of a trust or superannuation fund. This may change to a persons dependants (such as a spouse or children) in the event of a death of the member.
In philanthropic terms, the recipient of a philanthropic contribution.
a person designated to receive income from a trust or estate
a person, other than the insured, who is entitled to receive the policy proceeds on the death of the insured under a Life insurance policy.
The person named to receive income from a trust, an estate, or a deed of trust
A beneficiary is the person or organization who receives assets that are held in your name in a retirement plan, or are paid on your behalf by an insurance company, after your death. If you have established a trust, the beneficiary you name receives the assets of the trust. A life insurance policy pays your beneficiary the face value of your policy minus any loans you havent repaid when you die. A retirement plan pays your beneficiary the accumulated assets or requires the beneficiary to withdraw assets either as a lump sum or over a period of time, depending on the way the plan is set up. You may name any person or institution or several people and institutions as beneficiary of a trust or life insurance policy. Some retirement plans require that you name your spouse as beneficiary unless you get his or her written permission to name someone else.
The person or entity (for instance, a trust fund) to whom the proceeds of a life insurance policy or the values of an annuity policy are payable when the insured or annuitant dies. There are, various types of beneficiaries, including: Contingent, Primary, secondary, Irrevocable, Revocable, and tertiary.
A person who will receive policy benefits.
Generally, the person(s) who receive(s) money upon the death of the annuity's contract owner or annuitant. The contract owner determines who the beneficiary will be.
A person(s) designated by the policyowner to receive the proceeds of an insurance policy upon the death of the insured. The policyowner may name both a primary and contingent beneficiary, and may change the beneficiary through a written request to the home office. See also Irrevocable Beneficiary and Change of Beneficiary Provision.
In a legal context, a "beneficiary" usually refers to the person for whom a trust has been created. May also be referred to as a " donee" or, for legal tecchies, as a cestui que trust. Trusts are made to advantage a beneficiary ( ie settlor (also called a " donor") transfers property to a trustee, the profits of which are to be given to the beneficiairy).
The person(s) named by the policy owner to receive policy death benefits.
The party who is to receive the proceeds of a trust, insurance policy, letter of credit, or other transaction.
The designation by the owner of a life insurance policy that indicates who will receive the proceeds upon the insured's death or when a policy endowment matures.
This is someone who benefits from a will, a trust, a pension fund or a life insurance policy.
A beneficiary (also, in trust law, referred to as the cestui que use) in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. The beneficiary of a life insurance policy, for example, is the person who receives the payment of the amount of insurance after the death of the insured. The beneficiaries of a trust are the persons with equitable ownership of the trust assets, although legal title is held by the trustee.
In trust law, a beneficiary or cestui que use, is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person, but it is perfectly possible to have a company as the beneficiary of a trust, and this often happens in sophisticated commercial transaction structures.See for example Quistclose trusts and orphan structures, both of which commonly involve non-human beneficiaries of trusts. With the exception of charitable trusts, and some specific anomalous non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries.
Related Terms:
Irrevocable letter of credit, Applicant, Revocable letter of credit, Standby letter of credit, Account party, Commercial letter of credit, Transferable letter of credit, Letters of credit, Letter of credit, Advising bank, Irrevocable credit, Confirming bank, Letter of credit, Documentary credit, Assignment of proceeds, Confirmed letter of credit, Loc , Negotiating bank, Revolving letter of credit, Credit grantor, Third party processor, Reimbursing bank, Advice, Drawer, Commercial credit, Acceptance credit, Merchant agreement, Trade credit, Drawee, Opening bank, Draft, Deferred payment credit, Credit sale, Principal, Bank guarantee, Ucp, Accepting bank, Issuing bank, Bank guarantee, Letter of comfort, Credit history, Documentary collection, Credit, Open account, Uniform customs and practice for documentary credits, Fair credit billing act, Cardholder agreement, Counterparty, Joint credit, Escrow
The party that has contracted to sell the goods; the Exporter in the Letter of Credit process.
The party that sells the goods and will be paid by the issuer of the letter of credit.
The party in whose favour the documentary credit is issued
An individual or company who gains upon the opening of a letter of credit.
The party in whose favour the letter of credit is issued.
A term used in letter of credit transactions to denote the party in whose favor the letter of credit has been established. The beneficiary is the party who demands payment under the letter of credit.
An applicant for a visa as named in a petition from the Department of Homeland Security, Bureau of Citizenship and Immigration Services (BCIS).
The lender named on the mortgage note.
( Related information) A person certified as eligible for health care services. A beneficiary may be a dependent or a subscriber.
An individual who is eligible for and enrolled in the Medicaid program in the state in which he or she resides. Millions of individuals are eligible for Medicaid but not enrolled and are therefore not program beneficiaries. Connecticut= s Medicaid program now has approximately 400,000 beneficiaries.
A subscriber or dependent eligible for health care services (also: enrollee, member).
Heir at law, in an intestate estate, and devisee, in a testate estate.
Sometimes called the obligee, is the party in the surety contract who is secured against loss and to which the principal (obligor) and surety (the insurance company) are bound. In a Lost Instrument Bond form the beneficiary is typically the transfer agent and/or the issuer of the stock or bond certificate.
The Commercial entity that gets paid the rewards for your activities as a PartyPartners affiliate.
The entity funding the loan. This is the entity to which the loan is owed.
The entity or lender that funds the loan and to which the loan is owed.
Immovable Property Probate
actuarial assumptions asset allocation CIO
Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession.
In the Tacis Contract it is a partner, usually the Financial Lead Partner for Tacis of an approved project, that signs the contract regarding European Commission’s co-financing of the Action (the Grant Contract). The Beneficiary becomes fully legally responsible for the part of the joint project financed by European Commission from Tacis.
The lender or bank who makes a loan, also called a mortgagee.
The lender, who is making a loan, is called either a mortgagee or a beneficiary. The borrower is the mortgagor.
A role (doing something for someone) in argument structure (I bought it FOR YOU).
Someone who has Medicare coverage.
someone who gets advantages from an action or change Žó‰vŽÒAi”N‹àA•ÛŒ¯‚È‚Ç‚ÌjŽóŽælA
Keywords:
statement
Beneficiary Statement