Beneficiary

Noun

Definition: A person who derives advantage from something, especially a trust, will, or life insurance policy.

Synonyms: Recipient, Heir, Grantee, Legatee

Antonyms: Benefactor, Donor, Giver

Examples:

She was named the beneficiary of his life insurance policy.
The charity was the designated beneficiary of the trust fund.

Mnemonics:

Think of the word "benefit" which is related to deriving advantage, and the "ary" in "beneficiary" can be seen as someone who receives the benefit.

Etymology:

Origin:

Latin "beneficiarius," from "beneficium" (benefit, favor)

Historical Usage:

The term beneficiary has been used in legal and financial contexts to refer to someone who receives benefit or advantage from a trust, will, or policy.

Related Idioms:

Idiom:

"Named beneficiary"

Explanation:

Refers to a person who has been specifically designated or named to receive the benefits or assets from a particular legal document or policy.

Misconceptions:

Misconception:

Using "beneficiary" interchangeably with "benefactor."

Explanation:

While a beneficiary is someone who receives benefits or advantages, a benefactor is someone who provides those benefits or advantages. They are opposite roles in a transaction or arrangement.