- Additional Death Benefit
- An amount that is paid to the beneficiary of a life insurance contract that is separate from the original death benefit. The additional death benefit acts as an extra layer of payment in the event that a predefined situation occurs.
For example, let's assume that you have a life insurance policy worth $1 million. It is possible for the policy to pay an extra $1 million to your beneficiary in the event that you die within a certain age range.
There are many situations that will trigger an additional death benefit, so you may want to talk with your insurance company to see if there is a policy that is right for you.
Investment dictionary. Academic. 2012.
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