Ways in which life insurance policy proceeds can be paid other than in a lump sum, including interest, fixed period, fixed amount, and life income options.
The payment option(s) given to the beneficiary of an annuity policy upon the death of the annuitant, or during the accumulation phase, the death of the owner.
One of several ways, other than immediate lump-sum payment, the insured or beneficiary can have the policy proceeds paid.
The method by which the insured or beneficiary would like to obtain payouts.
An option in an insurance policy as to the form in which a claim may be settled. Thus, in property insurance, the insurer may commonly choose whether to pay, replace or make good, and in life assurance the assured sometimes has an option between taking the policy proceeds as a lump sum or in the form of an annuity.
The options given to the beneficiary in deciding how they wish to have the policy benefits paid out.
One of several ways, other than immediate payment in a lump sum, in which the insured or beneficiary may choose to have the policy proceeds paid.
The way in which money for the death benefit of an insurance policy will be paid to a beneficiary.
The methods by which the insurer may pay annuity or life insurance policy proceeds to the annuitant, contract owner, policy owner or beneficiary.
The manner in which the insured or beneficiary may choose to have the policy proceeds paid.