The settlement option that pays the life insurance proceeds in equal periodic installments for a specified number of years after your death is called:
Understand the Problem
The question describes the settlement option that allows life insurance proceeds to be paid in equal periodic installments for a designated number of years after the policyholder's death. It is asking for the specific term that defines this option.
Answer
Limited installment payment.
The final answer is limited installment payment.
Answer for screen readers
The final answer is limited installment payment.
More Information
The limited installment payment option ensures the proceeds are distributed over a specific number of years, providing periodic income.
Tips
A common mistake is confusing it with life income option, which pays until the beneficiary's death.
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