Beneficiaries Meaning: Definition, Examples, and Translations
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beneficiaries
[หbenษชหfษชส(ษ)ri ]
Definition
financial
People or organizations who receive benefits, profits, or advantages.
Synonyms
awardees, grantees, recipients.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| beneficiaries |
Used to describe people or groups who receive benefits, typically from a will, trust, insurance policy, or public assistance programs. It generally implies some form of long-term financial or material support.
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| recipients |
A general term used for anyone who receives something, whether it be an award, gift, message, or payment. It is very broad and can be used in a wide range of contexts.
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| grantees |
Refers to individuals or organizations that receive grants, typically financial support for specific projects or research, usually from governments, foundations, or institutions.
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| awardees |
Used to describe individuals or groups who have been given awards, prizes, or honors based on merit, often in academic, professional, or artistic settings.
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Examples of usage
- The beneficiaries of the new policy are the low-income families.
- She was named as the sole beneficiary of his will.
- The charity organization has many beneficiaries in need of assistance.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Legal Context
- In legal terms, a beneficiary often refers to someone named in a will to receive assets after a person's death.
- Trusts often designate beneficiaries who will benefit from the trust's assets, which can be a way to manage someoneโs estate.
- Life insurance policies also name beneficiaries who receive the insurance payout when the policyholder dies.
Finance
- Beneficiaries can receive financial support such as pensions, Social Security, and inheritance, impacting financial planning.
- In investment accounts, a designated beneficiary ensures quick transfer of assets without probate, making it easier for heirs.
- Many charities have beneficiaries that receive donations, which support community services and programs.
Sociology
- In social welfare, beneficiaries are individuals who receive aid from government programs designed to assist those in need.
- Understanding this term can highlight social inequalities and the role of government in providing healthcare, education, and assistance.
- Beneficiaries may also be recipients of non-profit services aimed at uplifting disadvantaged groups.
Cultural Perspectives
- Cultural views on beneficiaries can vary; some societies emphasize communal support, while others focus on individualism.
- In many cultures, family members are often the primary beneficiaries when it comes to inheritance and property distribution.
- The concept of beneficiaries also exists in many religions, where charitable giving is encouraged to help the less fortunate.
Origin of 'beneficiaries'
The word 'beneficiaries' originated from the Latin word 'beneficiarius', which means 'pertaining to a beneficiary'. The concept of beneficiaries has been present in various forms throughout history, especially in legal and financial contexts. In modern times, beneficiaries play a crucial role in inheritance, insurance, and welfare systems, ensuring that benefits are received by the intended recipients.