Just SA’s weekly jargon buster aims to give simple, plain English explanations of typical words and phrases used in the financial industry, in particular words relating to guaranteed life annuities and living annuities.
This week, we look at the letter B:
| B | Beneficiary | Someone who benefits from a will, a trust, a life insurance policy or death benefits from an annuity or pension. If you are a named beneficiary, you are eligible to receive benefits from the policy. |
Source: Just Retirement SA, info@justsa.co.za.
PERSONAL FINANCE