Settlement Options
An insurance contract is "settled" when the life insured dies. The death proceeds can be taken in several ways
- lump sum (most common)
- interest on the death benefit
- Term Certain Annuity
- life annuity
If the policyowner has not selected the settlement option, the beneficiary can upon the death of the life insured.
page revision: 2, last edited: 10 Jun 2007 22:07