oboloo Glossary

Beneficiary

oboloo Glossary

Beneficiary

Beneficiary Definition

A beneficiary is someone who receives benefits from a person, organization, or plan. In the case of a life insurance policy, the beneficiary is the person who receives the payout from the policy after the policyholder dies. The beneficiary can be named in the policy, or the policyholder can choose to have the payout go to their estate.

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