Definitions for "Life beneficiary"
Trust beneficiary who receives income for the lifetime. Also known as income beneficiary.
One who receives payments of other rights from a trust for his or her lifetime.
A person who receives the use of trust property and the benefit of trust income for his or her life, but who doesnâ€(tm)t own the trust property itself (the principal). A life beneficiary generally does not have any power to dispose of the trust property upon his or her own death.
Keywords:
insurance
Life Insurance