Dividend options

{
  "id": "MLC-T-INS-003632",
  "term": "Dividend options",
  "field": "Insurance and risk management",
  "definition": "Choices available to policyholders of participating life insurance policies regarding how to receive their share of the insurer's divisible surplus. Common options include receiving cash, applying the dividend to reduce the next premium payment, using it to purchase paid-up additional insurance, or leaving it with the insurer to accumulate interest. The specific options offered are detailed in the policy contract.",
  "url": "https://mlchart.com/terminology/insurance/dividend-options/"
}