An individual, institution, trustee, or estate which receives, or may become eligible to receive, benefits under a will, insurance policy, retirement plan, annuity, trust, or other contract.

Use beneficiary in a sentence

The will states that the nephew of the man is the direct beneficiary of his estate and will receive his savings as well as numerous properties.

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Bill was the lucky beneficiary of the special opportunity to play baseball at Texas University, as if he plays well, he can make the major leagues.

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John decided to list his wife as the beneficiary on all his insurance policies. Therefore if something happened to him, his family would be covered.

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unfunded pension plan pay on death