installments-for-a-fixed-amount option

Definition of "installments-for-a-fixed-amount option"
  1. A choice for the payout of insurance policy benefits where the insurance company retains the proceeds and disperses them in fixed monetary amounts until the benefits are completely paid out
How to use "installments-for-a-fixed-amount option" in a sentence
  1. The beneficiary decided to take the installment-for-a-fixed-amount option for the life insurance policy.
  2. The insurance company suggested an installment-for-a-fixed-amount option to manage the policy payments until all proceeds are exhausted.
  3. If you select the installment-for-a-fixed-amount option, you will receive regular payments until there are no more policy proceeds.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z