A beneficiary is simply the recipient of money or other benefits. So when your big sister finally moves away to college and you get to move into her bigger bedroom? You become a lucky beneficiary . BENEFICIARY definition : 1. a person or group who receives money, advantages, etc. as a result of something else: 2. a…. Learn more. What is a beneficiary ? A beneficiary is the term for a person or entity (such as a charity or a trust) who receives some type of benefit after the owner passes away. A beneficiary is named through paperwork when the asset (such as a retirement account) is established, although you can change it at any point before your death. In some cases, such as when purchasing a life insurance policy, you must name a beneficiary before you can complete the policy transaction. You can also split your ...
