A death benefit is money your beneficiary collects from your life insurance policy if you die while the policy is still in force.
In most cases, the beneficiary receives the face value of the policy as a lump sum. However, the death benefit is reduced by the amount of any unpaid loans you've taken against the policy.
Some retirement plans, including Social Security, also provide a one-time death benefit to your beneficiary at the time of your death.
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