What Does Life Income Settlement Option Mean?

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

Life Income Settlement Option

Life Income Settlement Option

A settlement option providing for life insurance or annuity proceeds to be used to buy an annuity payable to the beneficiary for life, often with a specified number of payments certain or a refund if payments don't equal or exceed premiums paid.

We hope the you have a better understanding of the meaning of Life Income Settlement Option.

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