death benefit

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  • noun

Words related to death benefit

insurance or pension money payable to a beneficiary of a deceased

References in periodicals archive ?
That money comes from either the cash value or, if the employee dies, the death benefit.
One particularly innovative feature is the Spousal Protection (Co-Annuitant) Benefit, which provides a death benefit for both the IRA owner and their spouse as a co-annuitant under one annuity contract.
Survivorship life is a great fit for estate planning, because it insures two lives and pays a death benefit only after both die.
In these cases, premiums are paid with after-tax dollars, and the death benefit is income-tax free.
The "basic" death benefit insures that the investor's beneficiaries will receive the greater of either the purchase payment or the market value of the annuity at the time of death.
The feature comes at a price, however, in the form of a longer surrender charge and a lower death benefit, according to a company prospectus.
Riders on Ultra Plus could include: Accelerated Death Benefit Rider-Terminal Illness; Accelerated Death Benefit Rider-Permanent Confinement; Accidental Death Benefit; Additional Insured Rider; Children's Level Term Rider; Continuation of Premium Rider; Full Surrender Charge Adjustment Rider; and Prime Term Rider.
In reality, borrowing to pay premiums reduces the death benefit.
House Bill 152 amends the Emergency and Law Enforcement Personnel Death Benefits Act to extend the application period for survivors to apply for death benefits from 90 days to four years.
Withdrawals, policy loans, and other distributions will reduce policy values and may reduce death benefits.
If an employer wants to offer a death benefit better than the one or two times salary that is common--such as $1 million or $2 million--it has to discriminate.
The COLI program was designed so that annual premiums, fees and policy loan interest would exceed the policies' projected annual death benefits and net cash values.
Accelerated death benefits from life insurance policies are now excludable from income if paid on account of a terminally or chronically ill individual; such individuals can now cash in their life insurance policies before death without having to including in income the excess of the policy's cash value over the premiums paid.
In addition, the death benefits payable under the policy will be reduced by the amount of the lien.
While there are many investment vehicles that can match corporate liabilities and provide security to the executives, the tax-sheltered investment results and death benefits of life insurance still make it a desirable funding vehicle for non-qualified plans.