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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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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]

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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