something against which a firm recive no benifit is:
Answers
Answer:
A beneficiary is any person who gains an advantage and/or profits from something. In the financial world, a beneficiary typically refers to someone eligible to receive distributions from a trust, will, or life insurance policy. Beneficiaries are either named specifically in these documents or have met the stipulations that make them eligible for whatever distribution is specified.
KEY TAKEAWAYS
A beneficiary is an individual who receives a benefit, which is typically a monetary advantage.
The distributions typically come with tax consequences and sometimes various stipulations.
If the distribution is in the form of a retirement account, then there are many factors to consider, such as time frame and distribution amounts, depending on the type of account.
The owner of a life insurance policy can change the beneficiary at any time, though doing so typically requires completing the necessary paperwork with the life insurance company.