What does Cash Settlement mean? Read on to discover the definition & meaning of the term Cash Settlement - to help you better understand the language used in insurance policies.
A cash settlement is a financial transaction in which one party pays actual money to another party, as opposed to compensating them with a commodity such as stocks. Many insurance claims can be paid in cash in lieu of other forms of compensation, such as repairs.
We hope the you have a better understanding of the meaning of Cash Settlement.