Business / Taxes / Death Benefit: A death benefit is money your beneficiary collects from your life insurance policy if you die while the policy is still in force. In most cases, the beneficiary receives the face value of the policy as a lump sum. However, the death benefit is reduced by the amount of any unpaid loans you’ve taken against the policy. Some retirement plans, including Social Security, also provide a one-time death benefit to your beneficiary at the time of your death.
Benefit Noun Synonyms: advantage, profit, good, sake, gain, aid, help, service
Benefit Verb Synonyms: improve, aid, help, better, promote, further, advance, forward
Business / Taxes / Accelerated Death Benefit: If your life insurance policy has an accelerated death benefit (ADB), you may qualify to use a portion of the death benefit to pay for certain healthcare expenses, such as the costs of a terminal illn MORE
Business / Human Resources (HR) / Older Workers Benefit Protection Act (OWBPA) Of 1990: OWBPA amended the ADEA prohibiting all employers from age discrimination in employee benefits programs by either providing equal benefits for older and younger workers or by spending an equal amount o MORE