Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
Division of

The Mortgage Group®


GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Variable Death Benefit


Synonyms:variable benefit, variable life insurance benefit
Filed Under: estate-management, insurance, investments
Tags: insurance, investment, life insurance
 

Definition of variable death benefit

variable death benefit
1. 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.

Related Terms and Acronyms:

  • accidental death benefit (ADB)   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   An individual or entity chosen to receive benefits from a will, trust, deed or insurance policy.
  • death benefit (DB)   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   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   Life insurance that only pays a death benefit when both spouses have died, commonly used in estate planning.
  • variable life insurance (VLI)   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.

Search the Glossary

Mortgage Rates
Mortgage rates have been so low for so long that it might be hard to remember a time when they weren't low, but if you use our rate history page, you can look back and see how things have changed over the years.
Mortgage Rates
 
Powerful Mortgage Calculator
Our mortgage calculator has been rebuilt in order to make it more powerful while at the same time, easier to use. Adjust mortgage rates, terms and amortizations or add lump sum payments and see how it affects your mortgage balance over time with our new custom generated charts and graphs.
Mortgage Calculator Amortization Schedule
 
Compare Today's Best Rates
We have nothing to hide and that's why we post all of Canada's current mortgage rates for you to compare. We strive to maintain our spot at the top of that list each and every day with the best mortgage rate available.
Compare Rates