A person or entity designated to receive benefits from a will, trust, insurance policy, or other legal arrangement. The beneficiary has a legal right to receive the specified benefits upon meeting the conditions.
From Latin 'beneficiarius' meaning 'one who receives a benefit,' derived from 'beneficium' (benefit, favor). Roman law used this term for those who received grants or privileges from superiors.
Being a beneficiary is like having a legal lottery ticket—you have a right to something valuable, but whether you actually get it depends on surviving the person who named you, the conditions being met, and the assets actually existing when it's time to pay up!
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