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
Method of selling insurance directly to insureds through a company's own employees, through the mail, or at airport booths. The company uses this method of distribution rather than ...
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Gross yield minus total costs (expenses). ...
Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
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