Jargon Buster - Definition of Beneficiary

Please select your letter of choice below to see the list of terms:

Beneficiary

is the person or person's who are nominated to receive money or assets from a trust. For example with a life insurance trust, the beneficiary or beneficiaries will receive the payout from the policy through the trust. The distribution of funds must be approved by the nominated trustees on the policy. There is no limit to the number of beneficiaries that can be nominated through a trust.


Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.

If you are in doubt of the meaning of any terms, why not email us on info@topquoteuk.com

The Financial Conduct Authority does not regulate trusts.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.