Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

death benefit

Read a random definition: Regulation

A quick definition of death benefit:

Term: Death Benefit

Definition: When someone who has a life insurance policy or pension account dies, the person they chose to receive the money (called the beneficiary) gets the assets. The beneficiary can get all the money at once or in smaller amounts over time. Sometimes the beneficiary doesn't have to pay taxes on the money, but other times they might have to pay taxes.

A more thorough explanation:

Death benefit

When someone who has a life insurance policy or pension account dies, the person they chose to receive the money gets a payment called a death benefit. The money can be given all at once or in smaller amounts over time. Some death benefits are not taxed, but others may have to pay taxes.

Example 1: John has a life insurance policy that will pay out $100,000 to his wife when he dies. When John passes away, his wife receives the $100,000 as a death benefit.

Example 2: Sarah has a pension account that will pay out $500 a month to her son after she dies. When Sarah passes away, her son will receive $500 a month as a death benefit.

These examples show how a death benefit works. When someone dies, the person they chose to receive the money gets a payment. The payment can be given all at once or in smaller amounts over time. The money is usually given to a family member or someone close to the person who died.

death beneficiary | death penalty

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.