beneficiary
Definition
Person or other legal entity for whose present or future interest (benefit) an annuity, assignment (such as a letter of credit), contract, insurance policy, judgment, promise, trust, will, etc., is made.
beneficiary is in the Accounting & Auditing, Corporate, Commercial, & General Law, Investing and Real Estate & Buildings subjects.
beneficiary appears in the definitions of the following terms:
sprinkling trust,
deed of assignment,
probate assets,
dormant account,
deferred payment letter of credit (L/C),
payment under reserve,
statutory trust,
living trust,
issuing bank,
unenforceable trust
and
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