death benefit
Học thuậtThân thiện
Definition
- Noun:
- Insurance or pension money payable to a beneficiary of a deceased person: A "death benefit" is a sum of money paid to a designated beneficiary upon the death of the person covered by an insurance policy, pension plan, or similar financial contract.
Usage
- The term is primarily used in legal, financial, and insurance contexts.
- It refers to a specific, pre-determined payment triggered by a death event.
- The beneficiary is the person or entity legally entitled to receive the payment.
Examples
- Noun:
- The life insurance policy includes a substantial death benefit for his spouse.
- Upon the employee's passing, the pension plan paid a death benefit to her children.
- He named his charity as the beneficiary of the death benefit.
Advanced Usage
- "Lump-sum death benefit": A single, one-time payment of the entire benefit amount.
- The policy offers a lump-sum death benefit to the beneficiary.
- "Accelerated death benefit": A provision allowing a terminally ill policyholder to receive a portion of the death benefit while still alive.
- She accessed the accelerated death benefit to cover her medical expenses.
Variants and Related Words
- Beneficiary (n): The person who receives the death benefit.
- Life insurance (n): A common type of contract that provides a death benefit.
- Payout (n): The act of paying out the death benefit.
Synonyms
- Survivor benefit: A payment made to surviving dependents.
- Death payment: A less formal term for the same concept.
Related Phrases
- Death benefit rider: An optional add-on to an insurance policy that provides additional death benefit coverage.
- He added a death benefit rider to his basic policy.
- Group death benefit: A death benefit provided through an employer's group insurance plan.
- Her job provides a group death benefit as part of the benefits package.
Noun
- insurance or pension money payable to a beneficiary of a deceased