death benefit

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Definitions from WordNet

Noun death benefit has 1 sense

death benefit - insurance or pension money payable to a beneficiary of a deceased
--₁ is a kind of benefit
--₁ has particulars: advance death benefit

Definitions from the Web

Death Benefit (noun)

A death benefit refers to a sum of money paid by an insurance company or other organization upon the death of the insured person.

Sense 1:

In life insurance, death benefit is the amount paid out to the designated beneficiary after the insured person passes away.

Example sentence:

Upon her husband's unfortunate demise, Lisa was relieved to receive a substantial death benefit from his life insurance policy.

Sense 2:

In pension plans, death benefit is the payment made to the beneficiary or surviving spouse upon the death of the plan participant.

Example sentence:

John's widow received a monthly death benefit from his pension plan to assist with her living expenses.