Life Insurance Term
Death Benefit
The amount paid to your nominee if you pass away.
What is Death Benefit?
The death benefit is the amount a life insurer pays your nominee if you die during the policy term. In a term plan it equals the sum assured and is generally tax-free.
It can be paid as a lump sum, as regular income, or a mix — depending on the plan option you choose.
Example
A ₹1 crore term plan pays a ₹1 crore death benefit to your nominee.
Related terms
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