What does Fixed Income mean? Read on to discover the definition & meaning of the term Fixed Income - to help you better understand the language used in insurance policies.
A fixed income is income that is paid in regular periodic intervals without an individual having to do any additional work. Typically, fixed incomes are created through investments or other financial vehicles that reach maturity after a length of time passes. In the context of insurance, certain types of life insurance have options to generate a fixed income after premium payments are made for a long enough time.
We hope the you have a better understanding of the meaning of Fixed Income.