Dictionary of Business Terms: benefit
benefit
- something that contributes to an organization, such as enhanced profitability, better efficiency, or reduced risk. An example is the technological introduction of a new machine that will enhance the quality and quantity of the production process.
- payment made by an insurance company to an individual due to the occurrence of an event, such as death or sickness.
- any fringe benefit, such as subsidized lunches, day care, and health club. See also fringe benefits.
- corporation-sponsored performance to raise funds for a needy cause.
Dictionary of Insurance Terms: benefit
benefit
monetary sum paid or payable to a recipient for which the insurance company has received the premiums.
Dictionary of Marketing Terms: benefit
benefit
satisfaction or need fulfillment that the consumer receives from a product or service.
