What Does Fixed-Amount Settlement Option Mean?

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

Fixed-Amount Settlement Option

Fixed-Amount Settlement Option

A life insurance settlement option whereby the beneficiary instructs that proceeds be paid in regular installments of a fixed dollar amount. The number of payment periods is determined by the policy's face amount, the amount of each payment, and the interest earned.

We hope the you have a better understanding of the meaning of Fixed-Amount Settlement Option.

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