Variable Death Benefit

Variable Death Benefit

A benefit in some life insurance policies where the designated beneficiary is guaranteed a minimum death benefit and an additional benefit, depending on the performance of some investment portfolio. This allows the beneficiary the possibility of a much larger death benefit that she/he would otherwise receive. However, the minimum benefit can be smaller than normal death benefits paid in other life insurance policies. See also: Variable life insurance.
References in periodicals archive ?
Option B -- Variable Death Benefit - is equal to the Face Amount plus the Policy Account Value.
New England Financial's new product offers a level or variable death benefit, 29 subaccounts and a minimum face amount of $25,000 to make it available to lower-paid workers.