The death benefit is the amount your beneficiaries will receive from your life insurance policy upon your death. This is paid out if the coverage was "In Force" at the time of your death.
The insurance face amount is the sum that a life insurance policy will pay upon the occurrence of a qualifying event – Death of the Insured Person.
The name comes from the fact that this amount is typically shown on the "Face" or top sheet of the life insurance policy.
The average face amount of individual life insurance policies purchased in the United States was approximately $168,000 in 2018.
Learn more about life insurance death benefits and how they work.
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