A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor.

Merriam-Webster Online Dictionary
beneficiary (noun)
1.
one that from something - benefits
2.
a) the person designated to receive the income of a trust estate
b) the person named (as in an insurance policy) to receive proceeds or benefits
beneficiary
Synonyms:
heir, inheritor
Categories: Assets