The phrase "death of the policy holder" refers to the event in which a life insurance policy is paid out to the beneficiaries because the person who took out the policy has passed away. Full definition
It is a type of pure insurance plan where the beneficiary will get the benefit only in case of death of the policy holder during the policy term. (holisticinvestment.in)
In case of the event death of the policy holder during the term of the policy, the beneficiaries can claim death benefits from the insurance company. (rupeenomics.com)