Death Benefit

The person or entity designated to receive the benefits or proceeds from an insurance policy.

Insurance coverage that pays a designated beneficiary a sum of money upon the death of the insured person, providing financial protection for dependents and covering final expenses, debts, and income replacement.

The written contract between the insurer and insured that outlines the terms, conditions, coverage, and exclusions of the insurance agreement.

Life insurance coverage for a specified period of time, providing a death benefit if the insured dies during the term.

Permanent life insurance that provides coverage for the insured's entire lifetime and includes a cash value component.

A financial product that provides regular payments to an individual, typically used for retirement income.

The savings component of a permanent life insurance policy that accumulates over time and can be borrowed against or withdrawn.