Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Life Insurance Glossary & Terms and other Life Insurance topics.
An arrangement made between the policy owner or beneficiary and the insurer concerning the process in which the insurer will pay the proceeds to the beneficiary. Periodic payment may be made in lieu of a lump-sum payment depending on the contract and the amount of the policy.
Guru Spotlight |
Lynda Moultry |