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death benefit

noun

Definition of death benefit

: money payable to the beneficiary of a deceased

Examples of death benefit in a Sentence

Recent Examples on the Web

 Over 6,000 donors, businesses and foundations also contributed to the Capital Gazette Families Fund, which has been applied to death benefits, victims who were injured in the shooting and some other Capital Gazette employees. — Juliana Kim, chicagotribune.com, "Memorials, company-wide moment of silence planned to mark 1 year since Capital Gazette slayings," 26 June 2019 The two astronauts who were in the military were eligible for military death benefits. — Alex Stuckey, Houston Chronicle, "Flying without a safety net: Early Apollo astronauts were not eligible for life insurance policies while in space," 4 June 2019 This is what is known as a cash refund option (commonly known as a death benefit). — Washington Post, "When it comes to annuities, there are pros, cons and certain levels of risk," 6 July 2019 Police departments are not required to report suicides to a national body, and some jurisdictions record them as natural deaths to protect police families from embarrassment or prevent the families from losing death benefits. — New York Times, "4 Officer Suicides in 3 Weeks: N.Y.P.D. Struggles to Dispel Mental Health Stigma," 27 June 2019 Though death benefits and annuities are still the core business, life insurers are branching out into savings products and insurance against disability or needing long-term social care. — The Economist, "The life-insurance industry is in need of new vigour," 17 May 2018 Over 6,000 donors, businesses and foundations also contributed to the Capital Gazette Families Fund, which has been applied to death benefits, victims who were injured in the shooting and some other Capital Gazette employees. — Juliana Kim, baltimoresun.com, "Moment of silence, remembrance concert planned for June 28, anniversary of Capital Gazette shooting," 19 June 2019 Hybrid policies have grown more popular in recent years, attracting consumers with the promise that if policyholders don’t end up needing long-term care, their beneficiary will receive a death benefit. — Cheryl Winokur Munk, WSJ, "What You Need to Know About Hybrid Long-Term-Care Insurance," 20 Nov. 2018 Shooter insurance is considered gap coverage, handling expenses not typically covered under general liability, such as funeral costs and death benefits. — Tawnell D. Hobbs, WSJ, "More Schools Are Buying ‘Active-Shooter’ Insurance Policies," 2 Aug. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'death benefit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of death benefit

1867, in the meaning defined above

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More Definitions for death benefit

death benefit

noun

Financial Definition of death benefit

What It Is

A death benefit is a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder.

How It Works

Also called a survivor benefit, a death benefit may come in the form of a one-time payment on a life insurance policy or in a series of income payments that are a percentage of those granted to the annuitant prior to death. For instance, as the beneficiary on a life insurance policy, a surviving spouse will be entitled to a one-time monetary payment upon the death of the other spouse as specified in the policy. Likewise, upon the death of an annuity holder, the beneficiary will receive ongoing annuity payments at a percentage of those received by the annuitant.

Why It Matters

Death benefits are the way in which annuities and life insurance policies compensate those close to or dependent upon the deceased policyholder for the costs associated with death (e.g. funeral expenses) and potential loss of income.

Source: Investing Answers

death benefit

noun

English Language Learners Definition of death benefit

: money that an insurance company pays to the family of someone who has died because that person had life insurance

See the full definition for death benefit in the English Language Learners Dictionary

death benefit

noun

Legal Definition of death benefit

: money payable to the beneficiary of a deceased as a benefit (as under a policy of life or accident insurance or a pension plan)

Note: The right to death benefits is generally terminated in cases of fraud, as when an insured commits suicide after purchasing a policy or when the beneficiary murders the insured.

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