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Finance: What is a Beneficiary? 25 Views
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Description:
What is a Beneficiary? Beneficiaries are named in just about every investment. The beneficiary is the person who receives the profits or distributions from any sort of financial account. In the case of a 529 college plan, the beneficiary would be the child who the owner of the account is saving for. In the case of a life insurance policy, the beneficiary is the person who receives the value of the policy should the owner pass away.
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- Finance / Financial Responsibility
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- Life Skills / Finance Definitions
- Finance / Personal Finance
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- Terms and Concepts / Accounting
- Terms and Concepts / Banking
- Terms and Concepts / Bonds
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- Terms and Concepts / Econ
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Transcript
- 00:00
Finance a la shmoop.. what is a beneficiary? well in Latin, bene is
- 00:08
good so this is like a good place to catch fish...well close not [Old man fishing in the ocean]
- 00:15
really but being a beneficiary is good it means you get stuff like if you are
- 00:20
the beneficiary of weird uncle Al's will then you get his odd collection of hair
- 00:26
balls shaped like US presidents and thirty two thousand two hundred sixty [Uncle Al's will appears]
Full Transcript
- 00:31
$9.32... in essence then you are the beneficiary of his will you are the one
- 00:37
set up to benefit by the death of someone who wanted to favor you with
- 00:42
their assets when they had you know passed on to the great beyond where hair [Uncle Al with white wings in heaven]
- 00:46
balls will fall....
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