MEDICAL,USA: 1. Individual entitled to receive insurance policy or government program health care benefits. Enrollees in the Medicare and Medicaid programs are commonly referred to as beneficiaries . Also known as participant, subscriber, dependents, enrollee, recipient , or member . 2. Dependents eligible for TRICARE or CHAMPVA benefits. 3. Person named in the insurance policy or pension plan to receive the proceeds at the death of the insured (policyholder). Types of beneficiaries are: alternate beneficiary, contingent beneficiary, irrevocable beneficiary, primary beneficiary , revocable beneficiary, secondary beneficiary, successor beneficiary , and tertiary beneficiary .
***
“A beneficiary is a person who is or may become eligible to receive benefits from an insurance policy or an annuity. There are several different beneficiary designations:Primary Beneficiary
The primary beneficiary is the first person named to receive benefits from an insurance policy or annuity. For example, a husband may name his wife as primary beneficiary of his life insurance policy.
Secondary Beneficiary or Contingent Beneficiary
This is the second person to receive benefits if the primary beneficiary is not alive or does not collect all available benefits. For example, a husband may name his wife as primary beneficiary on his life insurance policy and, if his wife predeceases him, his children as second or contingent beneficiaries.
A revocable beneficiary is one the owner of a life insurance policy or annuity has the right to change.
This is a beneficiary that cannot be changed by the policy owner without the permission of the beneficiary.
Irrevocable”
***
US: A person named by the insured to receive the proceeds or benefits accruing under a life policy.
***
UK: Party named in an insurance contract, including a life policy, to receive any benefit payment if the insured event occurs; usually, not always, identical with the policyholder. Also refers to a person who will benefit under a will.
***
The person designated to receive the benefits of a policy.
***
The person designed to receive the benefits of some transaction as the proceeds of an accident Insurance Policy. The person named in the Policy, to whom the Insurance Company offer evidence in support of the claim that has been submitted to the Company.