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life income option

The life income option is a life insurance settlement option under which a beneficiary may have policy proceeds converted to a life annuity for the beneficiary.

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life income option

The life income option is a life insurance settlement option under which a beneficiary may have policy proceeds converted to a life annuity for the beneficiary.

Additional Information


Annuity payments are made during the beneficiary's life in an amount determined by the life expectancy at the time the settlement is chosen after the death of the insured.