beneficiary

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun One that receives a benefit.
• noun The recipient of funds, property, or other benefits, as from an insurance policy or trust.
• noun Ecclesiastical The holder of a benefice.

from The Century Dictionary.

• Arising from feudal tenure; feudatory; holding under a feudal or other superior; subordinate: as, “beneficiary services,” ; “a feudatory or beneficiary king,”
• Connected with the receipt of benefits, profits, or advantages; freely bestowed: as, beneficiary gifts or privileges.
• noun One who holds a benefice.
• noun In feudal law, a feudatory or vassal.
• noun One who is in the receipt of benefits, profits, or advantages; one who receives something as a free gift.

from the GNU version of the Collaborative International Dictionary of English.

• noun A feudatory or vassal; hence, one who holds a benefice and uses its proceeds.
• noun One who receives anything as a gift; one who receives a benefit or advantage; esp. one who receives help or income from an educational fund or a trust estate.
• adjective Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession.
• adjective Bestowed as a gratuity.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun One who benefits or receives an advantage.
• noun law One who benefits from the distribution, especially of an estate.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun the semantic role of the intended recipient who benefits from the happening denoted by the verb in the clause
• adjective having or arising from a benefice
• noun the recipient of funds or other benefits