Definitions of "beneficiary"
  1. An individual or organization that profits or gains an advantage from something, for instance, a legal document like a will
  2. An individual or institution specified or legally qualified to inherit profits or income from a trust
  3. The individual or entity indicated by the owner of a life insurance policy to acquire the financial benefits upon the owner's death
  4. An individual or organization allowed under a letter of credit to require payment from the letter's issuer
  5. An individual or organization who gains or profits from a commitment, pact, or contract
How to use "beneficiary" in a sentence
  1. The lawyer was busy preparing the trust documents for the beneficiary.
  2. Upon their parent's passing, the sibling discovered that they were the designated beneficiary of the life insurance policy.
  3. Under the letter of credit, as per the contract terms, the beneficiary was able to demand payment from the issuer.

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