Legal Definition of Beneficiary: An individual who receives benefits granted to him by another. As examples, an heir is given money in a will by someone who has died; a person who is named to receive the moneys from a life insurance policy. (Institutions, corporations, charitable organizations, etcetera, may all be beneficiaries.) | Gain a deep understanding of the legal definition of beneficiaries and how it impacts your business operations. Discover examples and learn why it is crucial for business owners to comprehend this concept for estate planning, insurance policies, charitable contributions, and legal agreements. Empower yourself to protect your assets and make a positive impact on causes that matter to you