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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+
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*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. Eligibility depends on income, occupation and educational qualification

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
  • 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
  • User-Friendly Portal

    InsuranceDekho has helped me find a perfect Life Insurance Plan from ICICI Prudential. It fits my budget and all my family's needs. Thanks to the online premium calculator, I was able to compare all my plans before making a decision. They have such an easy-to-use portal. Recommend to everyone. 

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    ICICI Prudential
    By Jipin TP
    On: June 21, 2024
  • Supportive team

    Insurancedekho helped me understand the importance of a joint life insurance plan for both me and my wife. Based on their recommendation, we bought HDFC Life Insurance. Their advice has come in handy, and now we enjoy the benefit of safety it provides. Thank you so much, team. 

    K
    HDFC
    By Karthick arjuna
    On: June 21, 2024
  • Customer Satisfaction

    My child has special needs, and upon referral from my family friend, I bought PNB MetLife Insurance for my kid from InsuranceDekho. Shruti from the customer support team helped me at every stage, and now my family has financial security for their care after I am gone. Thank you. 

    N
    PNB Met
    By Niliska D’Souza
    On: June 21, 2024

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