Definitions for "Settlement option"
One of the methods – other than payment of a lump sum – by which the certificate owner or beneficiary receives the proceeds of a life insurance or annuity certificate.
a way of paying the proceeds of a life insurance policy other than in a lump-sum cash payment
The various ways which a policy owner or beneficiary may choose to have policy benefits paid out. Options available vary by contract.
The act of drawing the claim amount in instalments.