Just as a ship has lifeboats that act as safety net in case of emergencies, death benefit is the safety net that a life insurance plan provides for the policyholder's family in case of an unfortunate event. In simpler terms, a death benefit is the amount that is paid to nominees if anything happens to the policyholder.
According to the policy features & benefits, the death benefit amount can also include bonus and payments on occurrence of an event based on the rider opted by the policyholder.
Death benefit
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