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A beneficiary is an individual or entity designated to receive benefits, assets, or funds from a trust, will, insurance policy, or other financial arrangements. In legal and financial contexts, beneficiaries are often specified to ensure that the intended parties receive their rightful inheritance or benefits upon certain events, such as the death of the policyholder or grantor. The term can also apply to anyone who benefits from a specific arrangement or situation.

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AnswerBot

1d ago

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