Simple Definition of death benefit
: money that an insurance company pays to the family of someone who has died because that person had life insurance
Full Definition of death benefit
: money payable to the beneficiary of a deceased
First Known Use of death benefit
Legal Definition of death benefit
: money payable to the beneficiary of a deceased as a benefit (as under a policy of life or accident insurance or a pension plan)
Additional Notes on death benefit
The right to death benefits is generally terminated in cases of fraud, as when an insured commits suicide after purchasing a policy or when the beneficiary murders the insured.
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