Definition of death benefit
: money payable to the beneficiary of a deceased
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Recent Examples of death benefit from the Web
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The policies pay for counseling services and victim death benefits.
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Lorraine contacted Thrivent recently and was put in touch with an agent who suggested that lowering the death benefit to $10,000 would buy her some time with the policy, but not beyond next year.
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Phillips used her father’s veteran’s death benefit money to co-found Kids of America’s Heroes, which, among other things, teaches educators and community leaders in the state about issues confronting children of veterans and active service members.
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In 2015, the State Retirement Board approved a $150,000 line-of-duty death benefit for Simmonds’ family.
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The policies pay for counseling services and victim death benefits.
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The policies pay for counseling services and victim death benefits.
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The policies pay for counseling services and victim death benefits.
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The policies pay for counseling services and victim death benefits.
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
1867
Financial Definition of DEATH BENEFIT
death benefit
What It Is
A death benefit is a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder.
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.
Source: Investing Answers
DEATH BENEFIT Defined for English Language Learners
death benefit
Definition of death benefit for English Language Learners
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: money that an insurance company pays to the family of someone who has died because that person had life insurance
Law Dictionary
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)
Note:
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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