Choices given to the owner or beneficiary of a life insurance policy regarding the method by which the insurer will pay the policy's proceeds when the policy owner does not receive the benefits in one single payment. Typically, the owner can elect (1) to leave the proceeds with the insurer and earn a specified interest rate, (2) to have the proceeds paid in a series of instalments for a pre-selected period, (3) to have the proceeds paid in a pre-selected sum in a series of instalments for as long as the proceeds last, or (4) to have the insurer tie payment of the proceeds to the life expectancy of a named individual through a life annuity. Also known as optional modes of settlement. |
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Schedule Secondary Market Section 1035 Exchange Section 415 Securities And Exchange Commission (SEC) Securities Outstanding Securitization Of Insurance Risk Segregated Account Self-insurance Settlement Options Severity Sewer Back-up Coverage Shared Market Short-term Disability Income Insurance Single Premium Annuity Single Premium Policies Soft Market Solvency Specified Disease Coverage Spendthrift Trust Clause Split-dollar Life Insurance Plan Spread Of Risk Stacking Standard Risk Class Statutory Accounting Principles (SAP) Stock Insurance Company Straight Life Annuity Structured Settlement Subrogation Substandard Premium Rates Substandard Risk Class Suicide Exclusion Provision Superfund Supplemental Coverage Surety Bond Surplus Lines Surplus Surrender Charge Surrender Cost Comparison Index Swaps.
