Definition

1. 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

1. insurance or pension money payable to a beneficiary of a deceased