death benefit

American  

noun

1. the amount of money to be paid under the terms of an insurance policy to the designated beneficiary upon the death of the insured.

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Etymology

Origin of death benefit

First recorded in 1920–25

Example Sentences

Life-insurance death benefits are generally free of income tax for the beneficiary.

From MarketWatch

If you’re considering a whole life policy, Daily suggests asking the agent, “What is the minimum base commission as a percentage of the total death benefit?”

From MarketWatch

They can elect to continue the income over a spouse’s lifetime and add a death benefit for other heirs.

From The Wall Street Journal

Meanwhile, money to impoverished regions in the form of military sign-up bonuses and death benefits would dry up.

From The Wall Street Journal

Even after the death of the policyholder, the carrier may have to pay the death benefits, if it has not honored its obligations.

From MarketWatch