Fixed-period Option Settlement
Beneficiary's choice, in a life insurance policy or annuity, for receiving income payments for a given period of time. The number of payments are fixed by the payee; the benefit amount is determined by the death proceeds. For example, an income benefit of $1000 per month is paid for a period of 48 months, whereupon all income payments cease.
Popular Insurance Terms
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Record prepared by the rating bureau describing the particulars of an insured property and the applicable premium rate. ...
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Same as term: Beneficiary; Beneficiary Clause: ...
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