The death benefit component is a life insurance policy that pays out a lump sum to the beneficiaries in case of the policyholder's death. Full definition
Buyers of this type of insurance typically seek the maximum death benefit component with the lowest possible premium. (en.wikipedia.org)
This is because these plans offer a guaranteed death benefit component. (insurancescored.com)
If the owner is age 70 or older on the election date, the roll - up Death Benefits Component compounds at 1 % less until the contract anniversary immediately preceding the owner's 81st birthday. (jackson.com)