The term "beneficiary" refers to a person or entity that receives benefits, profits, or advantages from something. This could include someone who receives money from an insurance policy, a trust fund, or any other type of financial or legal arrangement. Essentially, a beneficiary is the designated recipient of benefits or resources, usually outlined in a legal document.
The word "beneficiary" traces its roots to Middle English, originating from the Latin term "beneficarius," which means "doing good or benefitting." The root "beneficium" means "benefit or favor," indicating a person who receives benefits.