A settlement option under which the insurance company pays the policy proceeds plus interest in a series of annual or more frequent installments for a preselected period of time.
A type of death benefit settlement option in a life insurance policy that pays the death benefit over a specific period of time. The death benefit is left on deposit with the insurance company and earns interest. The insurance company makes payments of a fixed amount until the benefit and interest has been exhausted.
A life insurance proceeds settlement option whereby the number of payments is fixed by the policyowner. The amount of each payment is determined by the amount of proceeds. (An example would be electing to receive benefits for a specified period of time, such as ten years; the amount of each payment is then based on the amount of principal and projected earnings.)
An option on an annuity that provides that annuity payments, each of specified and equal amounts, will be paid for a certain period of time such as 10 or 15 years, even if the annuitant is still living at the end of the period.
(1) A life insurance policy settlement option under which the insurer pays the policy proceeds and interest in a series of annual or more frequent installments for a preselected period. See also settlement options. (2) An annuity payout option under which the insurer makes annuity payments for a specified period of time. See also payout options.
This is a settlement option chosen by the owner of the insurance policy that pays the death proceeds to the beneficiary over a stated period of time, such as ten years.
A life insurance settlement option under which the insurer pays the beneficiary the policy proceeds plus interest in a series of equal installments for a specified length of time.
Life Insurance settlement option in which the policy proceeds are paid out in fixed amounts.
