Death Benefit
Definition of "Death benefit"
Amount payable, as stated in a life insurance policy, upon the death of the insured. This is the face value of the policy plus any riders, less any outstanding loans and the interest accrued thereon.
Popular Insurance Terms
Coverage for a mortgagee where real or personal property, used as security for a loan, is damaged or destroyed. For example, a bank (mortgagee) lends money to an individual (mortgagor) who ...
Method of calculating the primary insurance amount (PIA) for Social Security benefits. Employees' covered monthly earnings are adjusted to reflect changes in the national average annual ...
Trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the association is to further the common interests of its members. ...
Insured losses that have occurred but have not been reported to a primary insurance company. These types of claims have a tremendous effect on a reinsurance treaty, which may be showing a ...
Monetary guarantee that an individual released from jail will be present in court at the appointed time. If the individual is not present in court at that time, the monetary value of the ...
Elements common to all life insurance policies. While state insurance laws do not prescribe the exact words that must be in a life insurance policy, certain standard provisions must be ...
Minimum degree of injury or loss for which an injured party can sue, even though covered by no fault automobile insurance. Traditionally, an accident victim had to prove the other driver ...
Life insurance and long-term disability income insurance on major employees, with benefits payable to the business. Key person insurance has these advantages: enhances the ability of the ...
Health plan that pays a flat fee for each patient it covers. ...
Comments for Death Benefit
Someone told me about dividend they received from parents death some kind of insurance don't know for sure neither did the person that told about it ( 10 yrs ago)?
Oct 10, 2018 14:44:31Hey David!
Oct 11, 2018 09:45:24That's probably the death benefit :)
Have a question or comment?
We're here to help.