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
Agreement by the insured that, simply because the insurer investigates and determines a value for the claim, the insurer does not admit liability for the claim. ...
Reserve at the beginning of the policy year that is equal to the terminal reserve for the preceding year plus the net level premium for the current year. ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
Plan for excess layer (s) of insurance coverage over the primary coverage, for example, if a corporation buys $8 million as excess above a $2 million self insurance retention level. Excess ...
Coverage during the transfer of securities and monies, precious metals, and other specified types of valuables by armored guard services. Policies are specifically designed to fit an ...
Financial statement, issued by the insurance company on a monthly basis to its agents, showing for each agent his or her commissions earned, premiums written, policy cancellations, and any ...
Homeowners policy to cover the owner of a townhouse. ...
Base upon which a mortality table is built by beginning with a randomly selected group of people who are alive at the earliest age for which statistics are available on the number of people ...
Property coverage on a dealer's interest in equipment while it is being installed. Labor and material are protected against such perils as fire, lightning, and windstorm. For example, if an ...
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 :)
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