Beneficiary

As applicable:

• the person for whose benefit a trust is created;
• the person or partnership that is entitled to the amount of an insurance policy or an annuity;
• the unit holder, in the case of a mutual fund trust;
• the transferor who transfers or loans property to the trust and to whom the income attribution rules apply.

Note that a person's right as a beneficiary includes an immediate or future right, whether absolute or contingent, or a right subject to the exercise of a power by a person or partnership.