Beneficiary Meaning: Definition, Examples, and Translations

💰

Add to dictionary

beneficiary

[ˌbɛnɪˈfɪʃieri ]

Definitions

^{Context #1 | Noun}

legal term

A person who derives advantage from something, especially a trust, will, or life insurance policy.

Synonyms

grantee, heir, legatee, recipient.

Which Synonym Should You Choose?

Word	Description / Examples
beneficiary	Used to describe someone who will receive benefits, property, or profit from something such as a trust, insurance policy, or will. As the beneficiary of the trust, she will receive monthly payments. He was named as the primary beneficiary in her will.
recipient	Used in general contexts to refer to someone who receives something, such as an award, gift, or message. She was the recipient of the prestigious award. Every recipient of the email was asked to respond.
heir	Used to describe a person legally entitled to succeed to the property or rank of another on that person's death. Often used in familial contexts. He is the heir to the family estate. As the eldest daughter, she is the primary heir.
legatee	A person who receives a legacy (property or money left to someone in a will). It is typically used in formal or legal contexts. The will named several legatees who would inherit various assets. He was grateful to be a legatee of his uncle's substantial fortune.
grantee	Primarily used in legal contexts to refer to someone who has been given a grant, especially of property or rights. The grantee of the land must comply with the terms of the grant. She became the grantee of the patent after it was transferred to her.

Examples of usage

He was named as the sole beneficiary in his grandmother's will.
The charity was designated as the beneficiary of the fundraiser.
The beneficiary of the life insurance policy received a substantial sum of money.

^{Context #2 | Noun}

healthcare

An individual or group that receives medical benefits under a health insurance plan.

Synonyms

covered individual, insured party, recipient of benefits.

Which Synonym Should You Choose?

Word	Description / Examples
beneficiary	Use this term in legal or financial contexts where a person or entity is set to receive benefits or profits from a will, trust, insurance policy, or any financial arrangement. She named her daughter as the sole beneficiary of her life insurance policy. The charity organization was listed as a beneficiary in his will.
insured party	Similar to 'covered individual,' but more formal. It is often used in legal and technical insurance documents. The insured party will be compensated in case of a loss or damage to the insured property. The policy clearly states the obligations of both the insurer and the insured party.
covered individual	This term is typically used in insurance contexts to refer to a person who is protected by an insurance policy. As a covered individual, you are entitled to medical services under your health insurance plan. The policy outlines what care the covered individual can receive.
recipient of benefits	A broad term that can be used in various contexts, including government welfare, humanitarian aid, or employee benefits. It may have a slight negative connotation, suggesting dependence or assistance. The recipient of benefits must reapply annually to continue receiving assistance. Several families became recipients of benefits after the natural disaster.

Examples of usage

The employee's spouse is listed as a beneficiary on the health insurance plan.
Each beneficiary is entitled to certain medical services covered by the insurance policy.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Legal Context

Beneficiaries are often named in wills to receive property after someone's death.
In insurance terms, a beneficiary is the person designated to receive payouts from a policy upon the policyholder's passing.
Trusts also specify beneficiaries, who will benefit from the assets held in the trust at a later date.

Social Perspective

Non-profit organizations often have beneficiaries, such as individuals or communities that receive aid and services.
Beneficiaries of social welfare programs can include low-income households, the elderly, and persons with disabilities.
Understanding who benefits from programs can highlight social inequities and advocacy efforts.

Pop Culture

Movies about inheritance often showcase disputes and drama surrounding who will be the beneficiary of a wealthy relative's estate.
In many superhero stories, the heroes often act as beneficiaries of a larger good, representing hope and justice.
TV shows frequently explore the dynamics between beneficiaries and the deceased’s wishes, highlighting moral dilemmas.

Finance

In the realm of personal finance, designating a beneficiary can help in estate planning to ensure assets are allocated according to the individual's wishes.
Beneficiary accounts like retirement funds allow for direct transfers to a named person, simplifying the inheritance process.
Financial advisers often emphasize the importance of regularly updating beneficiary designations to reflect life changes like marriage or divorce.

Origin of 'beneficiary'

Main points about word origin

The word comes from the Latin 'beneficarius', meaning 'one who does good or confers benefits'.
It combines 'bene', meaning well, and 'facere', meaning to do, which relates to doing good for someone.
The term began usage in English around the 14th century, primarily related to legal contexts.

The word 'beneficiary' originated from the Latin word 'beneficiarius,' which referred to a person who received benefits or favors. Over time, the term evolved to encompass legal and healthcare contexts, where it denotes a recipient or heir. The concept of beneficiaries has been prevalent in various legal systems and insurance practices, highlighting the importance of ensuring that individuals or organizations receive advantages or benefits as intended by a trust, will, or insurance policy.

See also: beneficial, beneficially, benefit, benefits.

Word Frequency Rank

At #5,531 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.

...
5528 winding
5529 foster
5530 aesthetic
5531 beneficiary
5532 publicity
5533 pulp
5534 sincere
...