beneficiary
UK: ˌbɛnɪˈfɪʃəri | US: ˌbɛnəˈfɪʃiˌɛri
n. a person or group that receives benefits, profits, or advantages
n. (law) someone entitled to receive funds or property under a will, trust, or insurance policy
The word traces back to Latin beneficiarius, meaning "enjoying a favor or privilege," derived from beneficium (kindness, favor). The morpheme bene- (good) appears in many English words (e.g., benefit, benevolent), while -fic- comes from facere (to do/make), seen in efficient or fiction. The suffix -ary (as in missionary) indicates association. Combined, the term logically progresses from "one who receives good deeds" to its modern legal and general usage.
The charity named her as the primary beneficiary of the donation.
As a beneficiary of the trust, he received monthly payments.
The new policy aims to make low-income families the main beneficiaries.
She was unaware she was listed as a beneficiary in her uncle’s will.
The scholarship’s beneficiaries must maintain a high GPA.