Death Benefit
Definition of 'Death Benefit'The amount on a life insurance policy or pension that is payable to the beneficiary when the annuitant passes away.Also known as "survivor benefit." |
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Investopedia explains 'Death Benefit'A death benefit may be a percentage of the annuitant's pension. For example, a beneficiary might be entitled to 65% of the annuitant's monthly pension. Alternatively, the benefit may be a large lump-sum payment from a life insurance policy. The size and structure of the payment is determined by the type of policy the annuitant held at the time of death. |
Related Definitions
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Corporate Ownership Of Life Insurance - COLI
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Burial Insurance
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Stranger-Owned Life Insurance - STOLI
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Family Income Rider
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Insurance Proceeds
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Multiple Employer Welfare Arrangement - MEWA
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Contingent Beneficiary
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Annuitant
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Qualified Joint And Survivor Annuity - QJSA
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Guaranteed Minimum Income Benefit - GMIB
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