What Does Commutation Mean?

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What does Commutation mean? Read on to discover the definition & meaning of the term Commutation - to help you better understand the language used in insurance policies.

Commutation

Commutation

Commutation is the change of the mode of payment. In insurance, it means that insurance payout can be altered, either from a series of periodic payments to a lump sum or vice versa.

We hope the you have a better understanding of the meaning of Commutation.

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