Death Benefit

A death benefit is the payment you receive as a beneficiary of a life insurance policy. The death benefit may be paid as a lump sum or annuity.

If you receive an annuity, the amount you receive may be either a fixed or variable annuity.

A death-benefit annuity may include a cost-of-living adjustment (COLA) to protect against inflation. In most cases, a death benefit is paid monthly.