beneficiary

noun, plural ben·e·fi·ci·ar·ies.

1. a person or group that receives benefits, profits, or advantages.
2. a person designated as the recipient of funds or other property under a will, trust, insurance policy, etc.
3. Ecclesiastical. the holder of a benefice.

noun plural -ciaries

1. a person who gains or benefits in some way from something
2. law a person entitled to receive funds or other property under a trust, will, or insurance policy
3. the holder of an ecclesiastical or other benefice
4. NZ a person who receives government assistancesocial security beneficiary

adjective

5. of or relating to a benefice or the holder of a benefice

1610s (n.), 1620s (adj.), probably via French bénéficiaire, from Latin beneficiarius “enjoying a favor, privileged,” from beneficium (see benefice).

The recipient of funds, property, or other benefits from an insurance policy, will, trust, or other settlement.