MLchartDataset catalogue

Life income option

Term · Insurance and risk management · MLC-T-INS-002004

A settlement option for life insurance policy proceeds or annuity benefits that provides regular payments to the beneficiary for the remainder of their life. The amount of each payment is determined by the beneficiary's age and the total amount of the proceeds. Payments cease upon the death of the beneficiary, regardless of how much has been paid out.

Table 1. Record
IdentifierMLC-T-INS-002004
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002004",
  "term": "Life income option",
  "field": "Insurance and risk management",
  "definition": "A settlement option for life insurance policy proceeds or annuity benefits that provides regular payments to the beneficiary for the remainder of their life. The amount of each payment is determined by the beneficiary's age and the total amount of the proceeds. Payments cease upon the death of the beneficiary, regardless of how much has been paid out.",
  "url": "https://mlchart.com/terminology/insurance/life-income-option/"
}

Record 1,954 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.