Summary: A “death benefit” is the amount of money that an insurance company is going to pay the day the insured dies. So when the insured passes away, the face page of the policy will indicate that a certain sum of money is going to be paid to the beneficiary. It might be a million dollars, it might be two hundred thousand dollars. Whatever the amount is, that is the amount that’s going to be paid. It’s called the “death benefit”.

Life Insurance:

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