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 ?
The option to switch from an increasing to a level death benefit can be exercised only once during the policy term and if done, must be done at the beginning of a year until the year of death.
Death benefit Various settlement options available.
While term products may appeal to many clients who need a death benefit without cash value buildup, some clients overlook the dual benefits provided by permanent, cash value life products.
If an employer is under contract to pay a death benefit to an employee's surviving spouse, is the benefit taxable income to the surviving spouse?
It is particularly useful with C corporations, where the corporate alternative minimum tax can reduce by up to 15 percent the death benefit received by the corporation.
"Up to now it was only the EasySave Transactional Account holders who qualified for a free death benefit of N$3 000.
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.
Under what is called the "corridor percentage approach", the death benefit is periodically adjusted so that it is at least equal to a specified percentage of the cash value, as required by current tax law.
However, the death benefit would be $1 million (minus any loans taken against the policy) whenever the man dies.
* 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.
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.
The policy's market value is the net present value of the death benefit, factoring in the policy's duration and carrying costs.