A settlement option under which the company uses the policy proceeds and interest to pay a series of annual or more frequent installments over the lifetime of the person designated to receive the policy benefit.
One of the settlement options under which the proceeds of a life insurance or annuity policy may be applied to buy an annuity payable to the beneficiary for life#often with a specified number of payments certain or a refund if payments do not equal or exceed premiums paid.
A settlement option under which the beneficiary of a life insurance policy is guaranteed regular periodic payments for life.
A type of death benefit settlement option in a life insurance policy that pays the benefit in the form of an annuity. Payments are made for the life of the beneficiary.
Policy proceeds are retained by the insurer and pald periodically for as long as the payee lives or for a specified minimum number of years, whichever is longer.
A benefit payout option available in some life insurance policies, whereby the beneficiary is able to have the benefits converted into an annuity which is based upon the individual's life expectancy and payable as long as the beneficiary is still alive.
A settlement option under which the insurer pays the policy proceeds and interest in a series of periodic installments over the payee's lifetime.
Life insurance settlement option in which the policy proceeds are paid during the lifetime of the beneficiary. A certain number of guaranteed payments may also be payable.
A life insurance settlement option under which the insurer uses the policy proceeds and interest to pay the beneficiary a series of equal payments for as long as the beneficiary lives.
