Recent Examples of death benefit from the Web
One policy had a $10 million death benefit, paying $7.5 million to Diane; $2 million to the couple’s daughter, Jenna; and $500,000 to two employees.
In any event, the insurer never pays a death benefit, an advantage the insurance industry has come to rely on.
Clients can borrow against this accumulated value during retirement or simply use it to increase the death benefit that passes to their grandchildren.
Dividends can be used to reduce the cost of premiums, to increase the cash value and/or death benefit of life insurance, or be taken in cash.
But if your policy looks profitable, a life settlement typically amounts to 20 to 30 percent of its death benefit.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'death benefit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of death benefit
Financial Definition of DEATH BENEFIT
What It Is
How It Works
Also called a survivor benefit, a death benefit may come in the form of a one-time payment on a life insurance policy or in a series of income payments that are a percentage of those granted to the annuitant prior to death. For instance, as the beneficiary on a life insurance policy, a surviving spouse will be entitled to a one-time monetary payment upon the death of the other spouse as specified in the policy. Likewise, upon the death of an annuity holder, the beneficiary will receive ongoing annuity payments at a percentage of those received by the annuitant.
DEATH BENEFIT Defined for English Language Learners
Definition of death benefit for English Language Learners
: money that an insurance company pays to the family of someone who has died because that person had life insurance
legal Definition of death benefit
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