Variable Death Benefit
Definition
- A death benefit that changes depending on the performance of the insurance company's investments. With a variable death benefit, a specified minimum benefit is generally guaranteed, but this is not always the case.
Synonyms
variable benefit, variable life insurance benefit
Related Terms and Acronyms
- Accidental Death Benefit (ADB) — Acronym, Very Important,
- An additional benefit that pays an additional sum to a beneficiary if the cause of death is deemed to be accidental.
➥ A life insurance policy rider. - Beneficiary — Definition,
- An individual or entity chosen to receive benefits from a will, trust, deed or insurance policy.
- Death Benefit (DB) — Acronym, Very Important,
- A payment or series of payments made to the beneficiaries of a life insurance policy.
➥ An amount paid to a beneficiary in a life linsurance policy. - Life Insurance — Definition, Very Important,
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
➥ CanEquity offers life insurance. - Second-To-Die Insurance — Definition,
- Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
- Variable Life Insurance (VLI) — Acronym,
- Life insurance that provides the policyholder the option to place some of his or her premiums into the insurer's investment portfolio, providing beneficiaries with a variable death benefit.
