death benefit

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death benefit

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

death′ ben`efit


n.
the amount of money payable to a beneficiary upon the death of the insured.
[1920–25]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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)
References in periodicals archive ?
Terakedis and Fisher were motivated five years ago by clients who wanted maximum flexibility with access to cash values and death benefits excluded from the estate.
In line with these findings, the Allstate Advisor Variable Annuity offers a number of optional death benefits to help meet specific client needs.
The policy also provides four-year level term insurance to cover the risk of having death benefits included in the estate under certain conditions.
The purchaser of the life settlement becomes the new owner and beneficiary of the life insurance policy and is responsible for making future premium payments and collecting the death benefits of the insured.
The Department of Labor has contended that funding death benefits in qualified plans with permanent life insurance is a breach of fiduciary duty.
The National Association for Variable Annuities (NAVA) today announced that, from 2001 to 2003, variable annuity investor beneficiaries received death benefits of $2.
On the product side, they continue to go beyond the basic package of tax deferral and fund options to offer an array of other features: bonuses, investment-performance guarantees, long-term-care riders, lower insurance fees and surrender charges, higher death benefits, minimum income benefits, dollar-cost-averaging options, automatic asset rebalancing and name-brand asset managers.
While most UL's have advanced death benefits terminally ill customers can access, Ultra Plus expands that by allowing a customer to receive a percentage of the death benefit, without having to pay a premium, while in a long term care facility.
Out-of-control policy loans can erode a life insurance policy over time, eventually draining all the death benefits as well as saddling the policyowner with a substantial tax bill.
May 13, 2015 /PRNewswire-USNewswire/ -- Governor Tom Wolf today signed his first four pieces of legislation, including a bill that extends the application period for survivors of fallen law enforcement officers to apply for death benefits.
3 For federal income tax purposes, life insurance death benefits generally pay income tax-free to beneficiaries pursuant to IRC Sec.
It is a highly attractive benefit for these valued employees in that it can offer much higher death benefits than group term plans, belongs to the employee, is portable, and can provide another way for executives to accumulate money tax-deferred if they have maxed out on their companies' 401(k) plans.