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Language Foundation

beneficiary

A beneficiary is the person or organization named in an insurance policy to receive the policy’s benefits or proceeds when the event covered by the policy occurs.

In plain English

This identifies who is meant to receive the policy's payment or other benefits if the policy pays because a covered event happens. The named party can be a person or an organization.

In context

Here, "beneficiary" labels the named person identified in the policy to receive its benefits or proceeds if the covered event occurs.

Situation
Enrolling in policies and reading coverage, member, beneficiary, and effective-date labels
What it communicates
labels a named-person role in the beneficiary section

Meaning limits

The term alone does not indicate the amount or timing of any policy payment.

Examples

“When the covered flood damaged the studio, the museum named as beneficiary in the policy received the insurance proceeds.”

Core meaning

“Before signing the new policy, Arun asked that his daughter be recorded as the beneficiary instead of his business partner.”

In context

  • recipient Broader Term

    A beneficiary is a named recipient in this insurance sense.

  • contingent beneficiary Narrower Term

    A contingent beneficiary is a beneficiary named to receive the proceeds if the primary beneficiary cannot do so.