death benefit

Definition

The payment made to a beneficiary from an annuity or policy when the policyholder dies. also called survivor benefit.

Use death benefit in a sentence

Martin decided to take a lower monthly payout on his pension so upon his passing his wife would receive a monthly death benefit to keep her income stream intact.

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After Martha's husband died, she was left with debt. Fortunately, weeks later, Martha received a call from a lawyer informing her of the fact that she will be receiving a death benefit check within the next 30 days as the sole beneficiary of her husband's policy. Martha felt relieved because the check will be more than enough to cover the debt.

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Although the family was stricken with grief as a result of Jim's untimely death at work, his employer provided life insurance policy paid double the death benefit as a result of death occurring on the job.

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