Question
An individual who may become eligible to receive payment
due to will, life insurance policy, retirement plan, annuity, trust, or other contract is known as?Solution
A beneficiary is any person who gains an advantage and/or profits from something. In the financial world, a beneficiary typically refers to someone who is 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.
Select the segment which has a grammatical error in the given sentence.
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