The coverage amount of the policy that will be paid to the designated beneficiary at the time of the insured´s death It does not include additional amounts payable under accidental death or other specific riders, if they apply (Proceeds paid to beneficiaries generally are not subject to income tax )
In the event of the death of the contract owner prior to annuitization, the insurance company will pay the annuity beneficiary the contract’s accumulated value, less any withdrawals, or the amount of premiums paid, less any withdrawals, whichever is greater Variable annuity contracts never pay beneficiaries less than 100% of the premiums paid
The amount of money paid or due to be paid when a person insured under a life insurance policy dies This amount does not include adjustments for outstanding policy loans, dividends, paid-up additions, or late premium payments See also basic death benefit and policy proceeds
The amount payable, as stated in a life insurance policy, to the designated beneficiary(ies) upon the death of the insured The amount paid is the face value, plus any riders, less any outstanding loans
In some long-term care policies, a benefit payable to the enrollee's survivors or estate if the enrollee dies before a specified age, often 65 or 70 The benefit amount is a refund of premiums the enrollee paid minus the amount of any benefits the enrollee received while living
The guarantee that if you should die before you convert your variable annuity into regular income payments (annuitize your contract), your annuity's beneficiaries will receive the higher of the account value or a different amount specified in the deferred annuity (such as the amount you contributed to the annuity, less withdrawals) In many variable annuities, the death benefit can increase over time
The amount of money paid or due to be paid when a person insured under a life insurance policy dies This amount may not include adjustments for outstanding policy loans, dividends, paid-up additions or late premium payments