The Collaborative International Dictionary of English v.0.48:

Well-being \Well"-be`ing\, n.
   The state or condition of being well; welfare; happiness;
   prosperity; as, virtue is essential to the well-being of men
   or of society.
   [1913 Webster]

WordNet (r) 3.0 (2006):

wellbeing
    n 1: a contented state of being happy and healthy and
         prosperous; "the town was finally on the upbeat after our
         recent troubles" [syn: wellbeing, well-being,
         welfare, upbeat, eudaemonia, eudaimonia] [ant:
         ill-being]