beneficiary
noun
[ bɛnɪˈfɪʃ(ə)ri ]
• a person who derives advantage from something, especially a trust, will, or life insurance policy.
Similar:
heir,
heiress,
inheritor,
legatee,
recipient,
receiver,
payee,
donee,
assignee,
devisee,
grantee,
cestui que trust,
heritor,
Origin:
early 17th century: from Latin beneficiarius, from beneficium (see benefice).