beneficiary
ben-uh-FISH-ee-er-ee
/ˌbɛnɪˈfɪʃəri/
A person who derives advantage from something, especially a trust, will, or life insurance policy.
In retirement, this is the person who receives the funds if the account holder passes away.
The story behind the word. From the Latin 'beneficium', meaning a kindness or a favor. It literally means someone for whom something 'well' (bene) has been 'done' (facere).
Word relationships
- heir: Specifically someone who inherits property by law or will.
- recipient: A more neutral term for anyone who receives something.
- benefactor: The person who gives the benefit or money.
Commonly confused with
- donee: A donee receives a gift; a beneficiary receives a benefit from a legal structure like a trust.
Word family
- benefit (noun/verb): An advantage or profit gained from something.
Collocations
- primary beneficiary
- contingent beneficiary
- named beneficiary
Example sentences
- "It is vital to keep your beneficiary designations up to date after major life events like marriage or divorce." Legal Advice
- "The charity was named as the primary beneficiary of the billionaire's vast estate." News
Memory hook
A 'beneficiary' is someone who finds things 'beneficial'. The one who gains.
When not to use
Don't use this for the person paying into the fund; they are the 'contributor' or 'subscriber'.
Fun facts
- In the Middle Ages, a 'benefice' was a permanent church appointment for which property and income were provided.
Related words
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