Beneficiary

Part of speech: noun (n.)

1. A feudatory or vassal; hence, one who holds a benefice and uses its proceeds. Ayliffe.

2. 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. The rich men will be offering sacrifice to their Deity whose beneficiaries they are. Jer. Taylor.

Part of speech: adjective (a.)

1. Holding some office or valuable possession, in subordination to another; holding under a feudal or other superior; having a dependent and secondary possession. A feudatory or beneficiary king of England. Bacon.

2. Bestowed as a gratuity; as, beneficiary gifts.