death benefit

noun

: money payable to the beneficiary of a deceased

Examples of death benefit in a Sentence

Recent Examples on the Web

Workers’ compensation can cover the employee’s medical expenses and can pay out death benefits to surviving family members. —Jasmin Suknanan, CNBC, 7 Sep. 2024

Indexed universal life insurance also provides a death benefit and carries a cash value; however, this policy offers tax-free growth and distributions. —Robb Report Studio, Robb Report, 6 Sep. 2024

OneAmerica has been a strong force in the Indianapolis financial services industry since its start in 1877 providing death benefits to the Knights of Pythias. —Alysa Guffey, The Indianapolis Star, 16 Sep. 2024

Your beneficiaries get the death benefit, not the death benefit plus cash value. —Ashley Kilroy, Forbes, 10 Sep. 2024

Word History

First Known Use

1867, in the meaning defined above

Legal Definition

death benefit

noun

: money payable to the beneficiary of a deceased as a benefit (as under a policy of life or accident insurance or a pension plan)

Note: The right to death benefits is generally terminated in cases of fraud, as when an insured commits suicide after purchasing a policy or when the beneficiary murders the insured.