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beneficiary (noun) a receiver of a benefit; a person who gains from a situation; a person who inherits the property of a dead person, as by a will; a person who receives money from an insurance company.
A person who gains or is to gain something from a situation, an offer of money, or of things is a beneficiary. A number of students who receive scholarships and fellowships are beneficiaries of them. That is, they benefit from them. Beneficiaries of tax cuts are those who benefit from the tax cuts. Beneficiaries of a will are those who get the property of a dead person, as provided for in the will. People who receive insurance payments on maturity of the policies are the beneficiaries of the policies.
- The orphanages and the old age homes are the chief beneficiaries of a large portion of the dead millionaire's property because his will states that a third of his property should go to them.
- Beneficiaries of the funds provided for research by the company has to sign a bond that after the completion of research, they will serve the company for a minimum of a year.