Exam term
Settlement option
A way for the policy owner or beneficiary to take policy proceeds other than as one lump sum, such as interest only, a fixed period, a fixed amount, or a life income. In an annuity the same idea sets how accumulated value is turned into income.
Lessons that use this term
- Individual life underwriting, pricing, and claims California
- Annuity classification and payout options Florida
- Tax treatment of life insurance premiums, proceeds, and MECs Florida
- Individual life nonforfeiture options and policy settlement Florida
- Life policy settlement options New York
- Annuity classification and payout options Texas
- Owner's rights Texas