There is an old 2002 report posted on LIMRA the cited less than $90,000 death benefit for all types of life insurance which included group, individual, children and final expense polices. Each life insurance company posts their average size of the death benefit face amount, which even among the larger and more prolific life insurance companies is under $200,000.
The life insurance payout is the usually the same as the face amount. Some exceptions would be if the cash value has grown beyond the face amount (increasing the face amount), or if money has been borrowed from the policy and not repaid (reducing the face amount), or if the policy was purchased with a decreasing face amount.
The average face amount of policies purchased in 2010 was approximately $165,000, which was down from the previous years.
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The average face amount of policies purchased in 2010 was approximately $165,000, which was down from the previous years.