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The definitions contained herein are for general information only and are not
designed for use in connection with the interpretation of any insurance policy
or annuity policy issued through Insurance Answer Center.
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Life Insurance Glossary Terms 4 A B C D E F G H I J K L M N O P Q R S T U V W Y |
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Life Income Option |
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Under this life insurance settlement option, the death benefit can be paid as a stream of benefits payments (an annuity) instead of as a lump sum. The payments continue until the death of the annuitant. The annuitant is usually the beneficiary. The option can be selected by the policyowner during the lifetime of the person insured and thereafter by the beneficiary. Other settlements options include, Joint and Survivor Option, and Life Income with Period Certain Option. To find out more about the different types of annuities, please visit our annuity site. Also known as Life Only Option. See also Annuitant, Immediate Annuity, and Settlement Options. |
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Learn More about Life Insurance
Start a Life Insurance Quote
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| Answer Financial(R) Inc. offers insurance products and services through its licensed affiliates Insurance Answer Center(R) Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc., and other affiliates. Answer Financial is not an insurance company. Insurance plans and services are from insurance companies and other licensed insurance-related providers. Not all products available in all states. Rates subject to change. |
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