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