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Our Glossary of life insurance terms
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Misc
Guaranteed Death Benefit
(Annuity)
For variable annuity contracts, a provision
which provides that, should the annuitant or owner die before
benefits begin, the beneficiary will receive no less than the
amount originally invested (regardless of investment experience)
or the actual value of the contract, if greater. In some
annuities, the guaranteed amount is periodically increased.
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