What is the Definition of Annuity Death Benefits?

What is the Definition of Annuity Death Benefits?

The guarantee that if an annuity contract owner dies before annuitization (the switchover from the savings to the payment phase) the beneficiary will receive the value of the annuity that is due.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Annuity Death Benefits?

What is the Definition of Annuity Death Benefits?

Check out other definition of insurance terms below:


What is the Meaning of MONEY SUPPLY In Insurance Terms?

Total supply of money in the economy, composed of currency in circulation and deposits in savings and checking accounts. By changing the interest rates the Federal Reserve seeks to adjust the money supply to maintain a strong economy.


What is the Meaning of MORAL HAZARD In Insurance Terms?

The possibility that a person may act dishonestly in an insurance transaction.


What is the Meaning of MORBIDITY RATE In Insurance Terms?

The rate at which sickness and injury occur within a defined group of people. Insurers base health insurance premiums in part on the morbidity rate for a proposed insured’s age group. Contrast with Mortality rate.


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