death benefit

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death benefit

Insurance money payable to a deceased person's stipulated beneficiary.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

death′ ben`efit

the amount of money payable to a beneficiary upon the death of the insured.

[1920–25]

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Noun

death benefit - insurance or pension money payable to a beneficiary of a deceased

benefit - financial assistance in time of need

advance death benefit - a percentage of death benefits paid directly to policy holders having a short life expectancy (usually 6 months)

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"Up to now it was only the EasySave Transactional Account holders who qualified for a free death benefit of N$3 000.

Bank offers free benefits to all clients

A TLANTA, Ga., September 12 -- Old Mutual Financial Network (OMFN), through OM Financial Life Insurance Company, has introduced ValueMaster Universal Life (UL), which the company describes as a low premium UL insurance product that offers four no-lapse guarantees and an enhanced catch-up provision, in addition to a fully-guaranteed death benefit and flexible premiums.

OMFN introduces Universal Life product

However, the death benefit would be $1 million (minus any loans taken against the policy) whenever the man dies.

Insuring your wealth: the right insurance policy can help you build and protect your assets

* The qualified direct cost of insured death benefits can be based on Table 2001, (1) or another acceptable method of determining the actual cost of the death benefit.

Is a single-employer welfare benefit plan appropriate for a small business?

To determine whether an insured's permanent insurance programs include a guaranteed death benefit, ask the insurer for a "guaranteed illustration." An insurance professional should review the illustration to determine and evaluate the available options.

Review and revise insurance porfolios

The policy's market value is the net present value of the death benefit, factoring in the policy's duration and carrying costs.