settlement option

Insurance. A life-insurance-policy clause providing choices in the method of paying benefits to a beneficiary, as by lump-sum payment or periodic installments. [Cases: Insurance 2443, 3402. C.J.S. Insurance § 1194.]

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词条贡献者

译者Jenny，毕业于英国顶尖的高级翻译学院，擅长翻译各种与ERISA 诉讼相关的法律文件。