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"The person who receives the benefits", most commonly used in insurance policies for the person who gets the money if the policy must be paid out.

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14y ago

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Related Questions

What is the meaning of concessionaire?

The beneficiary of a concession or grant.


How does the root help you understand it's meaning beneficiary?

Well, beneficiary means well or good. It helps you understand the meaning of the word because it tells you that the word means good.


What is the meaning of tertiary beneficiary in a trust?

A tertiary beneficiary is the third in line to receive something when the primary and secondary beneficiaries have died.


Does to the issue of deceased beneficiary have the same meaning as surviving issue of beneficiary?

No, not exactly.The issue of a deceased beneficiary includes any issue that has predeceased that beneficiary.Surviving issue means only the issue living at the time of death of the beneficiary.


What do the meaning of BO account?

BO ACCOUNT means beneficiary owner account


What is the meaning of fudiciary?

Fiduciary is essentially a trustee. It relates to the relationship between a trustee and a beneficiary when a trust is involved.


What is the meaning of 'To the issue of the deceased beneficiary'?

It means to the children of the person who should have inherited, but died before he could.


How does the root help you understand the meaning?

Well, beneficiary means well or good. It helps you understand the meaning of the word because it tells you that the word means good.


What is Latin root in benefactor?

The Latin root of the word beneficiary comes from the Latin adverb "bene" meaning good.


What is the possessive form of beneficiary?

The possessive form for the noun beneficiary is beneficiary's.


How does the root help you understand it's meaning?

Well, beneficiary means well or good. It helps you understand the meaning of the word because it tells you that the word means good.


How do you relinquish beneficiary rights to previous beneficiary on life insurance policy?

Some life insurance policies have an "irrevocable" clause, meaning, once you designate a beneficiary, that's the only beneficiary that can be designated. Stated otherwise, the owner of the policy cannot him/herself change the beneficiary without the consent of the beneficiary (hence, the use of the term "irrevocable"). If that consent can be obtained, the insurer will have forms that must be completed with a great degree of formality, in order to effect the change. The insurer will be concerned that all formalities are observed so that when the insured dies, it is not faced with conflicting claims to the proceeds.