death benefit means: A deceased person can receive insurance money. (in Merlin Dictionary)
What else does death benefit mean?
- A life insurance policy that pays out the amount due in case of death. (in Insurance Dictionary)
- The death benefit is the amount of assets that a named person gets when the owner of a pension or life-insurance policy dies. You can choose to pay the beneficiary a lump sum or an incremental amount, depending on the wishes of your original owner. Certain death benefits, such as life-insurance policies, are exempt from tax while other assets like annuities can be subject to multiple taxes. (in Legal Dictionary)