What does Settlement Options mean? Read on to discover the definition & meaning of the term Settlement Options - to help you better understand the language used in insurance policies.
Settlement options refer to the ways in which life insurance companies pay out benefits to policyholders who have legitimate claims. The most common settlement option is a lump sum payment. However, this is not the only settlement option that is available to policyholders or beneficiaries. Settlement amounts vary from policy to policy.
We hope the you have a better understanding of the meaning of Settlement Options.