Death
Benefit
Death Benefit: A life insurance payment made
upon the death of an insured person. The
amount paid by the insurance company to the beneficiary when
the person insured under the policy dies. The benefit can
include the original or basic policy death benefit,
dividends, and supplemental benefits. The total of all these
benefits will be reduced by any outstanding policy loans,
loan interest, prior policy withdrawals, or benefits paid
under an accelerated benefit rider.
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