ECONOMICS

Detailed explanation-1: -A beneficiary is the person or entity you name in a life insurance policy to receive the death benefit.

Detailed explanation-2: -What is a beneficiary? A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products. For life insurance coverage, that is the death benefit your policy will pay if you die.

Detailed explanation-3: -A primary beneficiary is the person (or people or organizations) you name to receive your stuff when you die. A contingent beneficiary is second in line to receive your assets in case the primary beneficiary passes away. And a residuary beneficiary gets any property that isn’t specifically left to another beneficiary.

Detailed explanation-4: -A beneficiary receives financial benefits in the event of the insured’s death. You can assign beneficiaries to the following Vanderbilt benefits: Life Insurance. Accidental Death & Dismemberment Insurance (AD&D)

Detailed explanation-5: -beneficiary. noun. ben·e·fi·cia·ry ˌbe-nə-ˈfi-shē-ˌer-ē, -ˈfi-shə-rē plural beneficiaries. : a person or entity (as a charity or estate) that receives a benefit from something (as a will or other instrument or legal agreement): as.