death benefit definition by American Heritage Dictionary
nounThe American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Insurance money payable to a deceased person's stipulated beneficiary.
death benefit - Business Definition
Funds payable to beneficiaries of a deceased person's life insurance policy or pension. See also advance death benefit.