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The amount paid to a beneficiary upon the death of an insured person.Also called face amount
- ‘That amount (plus, in some policies, interest) is later deducted from the death benefit that goes to beneficiaries when the policyholder dies.’
- ‘The increase applies to those in receipt of old-age pensions, retirement or invalidity pensions, or death benefit.’
- ‘That would leave you with a much smaller debt - as well as a lower death benefit.’
- ‘In most cases, if you don't repay the loan, the loan amount is simply deducted from the death benefit.’
- ‘Despite a legal requirement to register and pay contributions, over 50,000 employers have evaded their responsibilities for years often leaving widows without death benefit payments.’
- ‘Another option is an enhanced death benefit, which will increase the guaranteed payout to your beneficiaries - say, an extra 5% a year.’
- ‘Both houses of Congress passed legislation that would increase the military death benefit from $6,000 to $12,000 and would make the payment tax exempt.’
- ‘Some insurers report an increased interest among older customers in term life insurance, which pays out a death benefit if you die while the policy is in effect.’
- ‘Therefore, the plan allows you to cover your long-term care needs as required, but still leaves the maximum possible amount of your death benefit intact for your dependents.’
- ‘Term Life Insurance - Term insurance is life insurance coverage that pays a death benefit only if the insured dies within a specified time period.’
- ‘Term is especially good if all you want is a death benefit - a sum your loved ones can use to bury you and settle up your debts.’
- ‘His £36,000 death benefit was eventually paid to his mother after she proved the marriage was illegal.’
- ‘The policy pays a death benefit to the beneficiary and provides a cash-value account, which earns tax-deferred interest at market rates.’
- ‘Other benefits included the making of a will, death benefit, probate, letter of administration, power of attorney, gifts and inheritance between spouses.’
- ‘And if these workers are killed in a work place accident, their next of kin will not be entitled to a death benefit and will have to bring their loved one's employer to court to secure such a benefit.’
- ‘At present, no death benefit is payable when a contributor who has no wife or child dies before retirement.’
- ‘It was determined that the cost of pursuing David for the $3,000 Canada Pension death benefit might exceed any recovery and therefore that action was abandoned.’
- ‘For instance, personal pensions should be held in a trust so that if the individual dies before claiming them the death benefits go directly to the beneficiaries without hitting the person's estate.’
- ‘Many credit cards provide automatic accident and death benefit.’
- ‘Mr Webb's death benefit was paid to his mother and she immediately paid the £36,000 to charity.’
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