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LSDefine

Simple English definitions for legal terms

death benefit

Read a random definition: melius inquirendum

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

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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