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Question: A person who gains or benefits as per a contract is known as ______.

Options:

  1.  Beneficiary
  2.  Annuitant
  3.  Assurer
  4.  None

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1. Beneficiary

A person who gains or benefits as per a contract is known as Beneficiary.


More information:

Beneficiary is the person, a group of persons or entity legally mentioned in insurance contract to receive the claim amount and other benefits upon the insured's demise.

It can be individuals (a spouse or adult child), charity, business or trust.

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