settlement option
settlement option (1)保险金支付方式选择权 在人寿保险单中，规定由被保险人选择保险金的支付方式和支付时间。 (2)年金支付方式选择权 在年金保险合同中，年金领取者有权选择领取终身年金，或将年金连同退款付给指定受益人，或将年金付给第二受益人。 (3)(养老金或退休金制度中的)支付方式选择权(→settlement)
settlement option
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.]