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Death Benefit

Death benefit is the amount that the insurance company provides to the beneficiary under the life insurance in case of unforeseen demise of the life assured during the policy tenure. The death benefit is equivalent to the sum assured chosen by the life assured at the time of purchasing the life insurance policy.

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1 Crore Life Cover starting from just ₹16/Day*
1 Crore Life Cover starting from just ₹16/Day*
  • Tax Benefit
    Tax Benefit
    Up to 1,50,000**
  • Claim Support
    Claim Support
    Everyday 10AM-7PM
  • 45 Lacs+
    45 Lacs+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

What Is Death Benefit In Life Insurance?

Death Benefit under a life insurance policy refers to the lump sum amount or sum assured that is paid to the beneficiaries of the life insurance policy in the event of an unforeseen demise of the life assured during the policy tenure. The death benefit consists of the sum assured amount selected by the policyholder at the time of purchasing the life insurance policy.

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Final Plan Eligibility will depend on some other factors including tobacco habits, education, occupation and income of the life assured / proposer

Types Of Death Benefit Payout Under A Life Insurance Policy

Below mentioned are the different types of death benefit payout options available under a life insurance policy:

  1. Lump Sum Payout: Under lump sum payout option, the death benefit is provided as a lump sum amount in one go to the beneficiary. This is the most preferred death benefit payout option. In case of an untimely demise of the life assured during the policy tenure, the insurance company will provide the death benefit as lump sum to the beneficiary upon choosing this death benefit payout option.
  2. Regular Payout: Many times the life assured is not sure if their financial dependents will be able to manage the huge death benefit amount in case of an untimely demise of the life assured, then this death benefit payout will be very helpful. Under this death benefit payout option, the death benefit is provided as regular monthly installments which is equivalent to the monthly income of the life assured, to the beneficiary in case of an untimely demise of the life assured. These regular monthly installments shall be provided till a pre-decided period of time.
  3. Part Lump Sum and Part Regular Payout: Under the death benefit payout option, the beneficiary receives the death benefit as part lump sum amount and part regular payouts for a decided period of time, in case of an untimely demise of the life assured during the policy tenure.

Life Insurance Companies User Reviews

What users are saying
  • Hassle-Free Policy Purchase

    Buying Axis Max Life Insurance was seamless with InsuranceDekho. Their website showed me different plans, premium details, and benefits in one place. The purchase process was straightforward, and I received my policy document without any trouble. Highly recommended!

    R
    Axis Max
    By Rajesh Verma
    On: February 25, 2025
  • Smooth Claim Settlement

    I had to file a claim for my HDFC Life Insurance, and I was unsure how to proceed. InsuranceDekho guided me through the entire process and helped me submit the necessary documents. The claim was settled smoothly, and their team was very supportive throughout.

    P
    HDFC
    By Priya Deshmukh
    On: February 25, 2025
  • Helped with Policy Renewal

    Renewing my TATA AIA Life Insurance was easy with InsuranceDekho. I received timely reminders, and their customer support explained the renewal benefits. The process was quick, and I didn’t have to worry about missing the due date. Great service!

    A
    TATA AIA
    By Anil Sharma
    On: February 25, 2025
  • Securing Family

    I was looking for a meaningful gift for my niece’s wedding when I came across the Life Insurance policy from InsuranceDekho. I gifted her LIC Life Insurance, and there couldn’t have been a better gift for her future. Thank you, team. You are doing a wonderful job. 

    S
    LIC
    By Sandeep Bishnoi
    On: June 24, 2024
  • Perfect Gift for my family

    My parents are getting older, I surprised them with a life insurance policy from Bajaj Allianz Life Insurance. I purchased it through InsuranceDekho; the process was smooth and a totally easy breeze. Thank you team, for helping me secure my family.

    A
    Bajaj Allianz
    By Asraf Ali
    On: June 24, 2024

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