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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.
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

Period Certain and Life Thereafter Option

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 death benefits payments are guaranteed for a minimum period (period certain) and, thereafter, continue to be paid 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 settlement options include Joint and Survivor Option, Life Income with Period Certain Option and Life Income Option. See also Annuitant, Immediate Annuity and Settlement Options.

Previous Term: Pension Next Term: Period Certain Only

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