installments-for-a-fixed-period option

Definition of "installments-for-a-fixed-period option"
  1. A choice for settling a policy where the insurer withholds the policy proceeds and pays them in parts over a determined length of time
How to use "installments-for-a-fixed-period option" in a sentence
  1. The beneficiary chose the installments-for-a-fixed-period option for receiving the policy proceeds after the death of the policyholder.
  2. With the installments-for-a-fixed-period option, the insurer will pay the policy proceeds over an agreed upon length of time.
  3. The policyholder can select the installments-for-a-fixed-period option to ensure the beneficiaries receive the benefits over a prolonged time.

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