This could also be called the Net Death Benefit in the case of a life insurance policy.

Simple Definition

The simple definition of the Net Benefit is the contractual benefit due to the beneficiary less any policy encumbrances (Loans, etc.)

Calculation Of Net Benefit

The calculation of the Net Benefit depends on other fields in the policy or coverage record.

The values are often controlled by the person entering the data and are not usually downloaded.  Be sure to check the benefit on reports before providing them to clients.

Death Benefit Option Set To Level or N/A

The Net Benefit is the greater of the Policy's Face Amount (Basic Benefit) less any loans, or, if greater, the Policy's Net Cash Value.

Death Benefit Set to Increasing

The Net Benefit is the sum of the Policy's Face Amount (Basic Benefit) and the Policy's Net Cash Value.  (The net cash value has been reduced by any loans.)

Death Benefit Option Set to Return of Deposit

The Net Benefit is the greater of the policy's total premiums to date or the policy's net cash value. (This option is not appropriate for life insurance.)

Dividend Option Set To One Year Term

In this case, the guaranteed cash value is added to the Death Benefit.  Loans are still subtracted.

Annuities

The Death Benefit for an Annuity is the greater of the contract's base cash value minus loans or the policy's benefit.