What is the Definition of Guaranteed Death Benefit?
Basic death benefits guaranteed under variable annuity contracts.
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 Annuity?
What is the Definition of Guaranteed Death Benefit?
You can find random definition and meaning of insurance terms below:
Meaning of Misstatement Of Age Or Sex Provision in Insurance Terms
A life insurance, health insurance, and annuity policy provision that describes how policy benefits will be adjusted if the age or sex of the insured has been misstated in the insurance application. Typically, the benefits payable will be those that the premiums paid would have purchased for the correct age or sex.
Meaning of Modified Premium Policies in Insurance Terms
An insurance policy for which the policy owner first pays a lower premium than she would for a similar level premium policy for a specified initial period and then pays a higher premium than she would for a similar level premium policy. Contrast with Level premium policies and Single premium policies.
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.
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