Usually means: Beneficiary receives funds after death.
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We found 6 dictionaries that define the word Payable on Death:

General (1 matching dictionary)
  1. Payable on Death (finance), Payable on Death: Wikipedia, the Free Encyclopedia

Business (4 matching dictionaries)
  1. Payable on Death (finance): Legal dictionary
  2. Payable on Death (finance), Payable-on-death: Financial dictionary
  3. Yahoo Tax Center Glossary (No longer online)

Slang (1 matching dictionary)
  1. Payable On Death: Urban Dictionary

Definitions from Wikipedia (Payable on Death)

noun:  the self-titled fifth studio album by Christian nu metal band P.O.D.

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