What Does Settlement Mean?

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

Settlement

Settlement

A settlement, in the context of insurance, refers to a policy benefit or claims payment. The amount depends on the particular claim, the guidelines stipulated in the insurance policy, and the mutual agreement of the parties involved.

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

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