beneficiary

beneficiary definition - business

beneficiary

A person, organization, or other entity that has received or is expected to receive a benefit of some type. For example, children may be beneficiaries of a parent's life insurance policy. See also legatee, primary beneficiary, secondary beneficiary.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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