life insurance proceeds
Policy death payout
Life insurance proceeds are the money paid out by an insurance policy when the insured person dies.
The beneficiary receives this sum, typically tax-free.
Proceeds may arrive as a lump sum or structured payments: She used the life insurance proceeds to pay off the mortgage.
The term emphasizes the money as it flows from the policy, distinct from the policy's face value or premiums paid.
- death benefitPayment upon policyholder's passing
- payoutMoney distributed to recipient
- beneficiaryDesignated asset receiver
- double indemnityInsurance provision doubling payment
- settlementResolved dispute or colony
lump sum · inheritance · widow · claim · policy · term life · whole life · premium · estate · cash · grieving · funeral · mortgage · debt · fresh start · security · financial · nest egg
- tax-free incometax-free income, non-taxable income, non-taxable, tax-exempt, Roth IRA
- estatesestates, manor house, estate planning, manor, country house
- estate taxesestate tax, inheritance tax, death tax, death duty, death duties
life insurance proceedspension
Retiree's ongoing benefit
retirement income · pension benefits · monthly benefits · disability income · unemployment benefits
liveliness, lifelong, lifetime, lifeless, lifelike, insure, insurance, insured, insurer