from
The Collaborative International Dictionary of English v.0.48
Beneficiary \Ben`e*fi"ci*a*ry\, n.; pl. {Beneficiaries}.
1. A feudatory or vassal; hence, one who holds a benefice and
uses its proceeds. --Ayliffe.
[1913 Webster]
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.
[1913 Webster]
The rich men will be offering sacrifice to their
Deity whose beneficiaries they are. --Jer. Taylor.
[1913 Webster]