A beneficiary is any person who gains an advantage and/or profits from something. In the financial world, a beneficiary typically refers to someone eligible to receive distributions from a trust, will, or life insurance policy. Beneficiaries are either named specifically in these documents or have met the stipulations that make them eligible for whatever distribution is specified.
Article Written By: JULIA KAGAN
Original Article Posted on: Apr 10, 2021
Link to Original Article: https://www.investopedia.com/terms/b/beneficiary.asp