Death Benefit
The amount of money paid to your beneficiaries when you die. The death benefit is the core purpose of life insurance and is generally received tax-free. The size of the benefit is set when you buy the policy and can range from a few thousand dollars to millions.
Related Terms
Disclaimer: This glossary entry is for informational purposes only and does not constitute financial or insurance advice. Consult with a licensed insurance professional for personalized guidance. GuardianChoices may earn affiliate commissions from links on this site — see our advertiser disclosure.
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