What does Death Benefit mean? Read on to discover the definition & meaning of the term Death Benefit - to help you better understand the language used in insurance policies.
A death benefit is the amount stated in a life insurance policy to be payable to the beneficiaries in case the insured passes away. In an annuity, it may be a percentage of the monthly pension of the annuitant that becomes payable to the beneficiaries in case of death of the annuitant.
We hope the you have a better understanding of the meaning of Death Benefit.