The amount payable by a life insurance company to the beneficiaries on the death of the insured (the... <a target=_blank href='http://www.finance-glossary.com/terms/death-benefit.htm?id=362&ginPtrCode=00000&PopupMode=false' title='Read full definition of death benefit'>more</a>
Insurance or pension money payable to a deceased person's designated beneficiary.
[n] - insurance or pension money payable to a beneficiary of a deceased
noun insurance or pension money payable to a beneficiary of a deceased
- Amounts received under a life insurance contract and paid by reason of the death of the insured. (Although most death benefits are paid at termination of life, certain plans now pay accelerated death benefits while the insured is still alive, i.e.: an AIDS patient might possibly receive accelerated death benefit)
the amount of money to be paid under the terms of an insurance policy to the designated beneficiary upon the death of the insured.