beneficiary
Meaning
A beneficiary is an individual or entity designated to receive benefits, assets, or advantages from a legal arrangement, trust, will, or insurance policy, often implying a fiduciary relationship where the benefactor has a duty to act in the best interest
💡 The term is often misused to refer to anyone who receives a benefit, whereas it specifically denotes a party with a legal right to receive benefits under a formal arrangement.
Example Sentences
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