This means that your loved ones or beneficiaries will have enough funds for paying final expenses, paying off big debts, or paying ongoing living expenses if or when the unexpected should occur. (goodfinancialcents.com)
Upon your death, your loved ones will receive a death benefit that can be used to help pay final expenses or replace lost income. (massmutual.com)
A death benefit gives your loved ones money — typically, tax - free — that they may use to pay your final expenses in the event of your death. (nationwide.com)