beneficiary

Definition

The lucky person who gets your stuff when you're gone, or whoever's name is on that insurance policy you forgot you had. In estate planning, they're the ones fighting over your belongings at Thanksgiving. In finance and law, they're the designated recipients of money, assets, or benefits from trusts, wills, and policies—basically, someone's getting paid and it's not you.

Example Usage

I listed my cat as the beneficiary on my life insurance policy because at least she appreciates me.

Source: Legal and financial terminology

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