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Finance Dictionary and Glossary of Investment Terms
variable death benefit
An amount paid to a decedent's beneficiary which is dependent on the performance of the insurance company's investment. For such benefit plans, a certain minimum payout is guaranteed, but the beneficiary can potentially get a larger payout if the company's investments perform sufficiently well.
The amount paid to a decedent's beneficiary that is dependent on the investment performance of an insurance company's separate account.