Jargon Buster - Definition of Beneficiary
Please select your letter of choice below to see the list of terms:
- Beneficiary
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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.
See Also:
Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.
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