interest-only option

Definition of "interest-only option"
  1. A choice in a settlement where the insurance company keeps the policy proceeds and offers interest payments at a minimum assured rate
How to use "interest-only option" in a sentence
  1. The policyholder selected an interest-only option for the maturity benefits of her policy.
  2. With an interest-only option, the insurance company pays interest instead of a lump sum amount at once.
  3. Choosing the interest-only option can provide a steady flow of income instead of a one-time payment.
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