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Death Benefit |
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Death Benefit The amount on a life-insurance policy or pension that is payable to the beneficiary when the annuitant passes away. Also known as "survivor benefit". Notes: A death benefit may be a percentage of the annuitant's pension. For example, a beneficiary might be entitled to 65% of the annuitant's monthly pension. Alternatively, the benefit may be a large lump-sum payment from a life-insurance policy. The size and structure of the payment is determined by the type of policy the annuitant held at the time of death. |
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Ohio National Financial Services in November 2006 strengthened its ONcore VA rider lineup with two new Guaranteed Minimum Income Benefit Plus riders and an Annual Reset Death Benefit Rider. B designated his estate as the sole beneficiary of any pre-retirement death benefit payable under Plan X. Here's that death benefit information you didn't request. |
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Death Benefit