Apedia

Beneficiary Person Benefit Money Property Dies Sole Contract

word beneficiary
definition A person or organization that benefits or is expected to benefit from something, especially one that receives money or property when someone dies.
eg_sentence Living in a trailer in near-poverty, she received word in the mail that her father had died, naming her as the sole beneficiary of his life-insurance policy.
explanation Beneficiary is often used in connection with life insurance, but it shows up in many other contexts as well. A college may be the beneficiary of a private donation. Your uncle's will may make a church his sole beneficiary, in which case all his money and property will go to it when he dies. A “third-party beneficiary” of a contract is a person (often a child) who the people signing the contract (which is usually an insurance policy or an employee-benefit plan) want to benefit from it. In a more general way, a small business may be a beneficiary of changes to the tax code, or a restaurant may be the beneficiary when the one across the street closes down and its whole lunch crowd starts coming in
IPA ˌbɛnəˈfɪʃiˌɛri

Tags: mwvb::unit:1, mwvb::unit:1:word, mwvb::word, mwvb::word-cloze, mwvb::word-reverse, obsidian_to_anki

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