Home > Glossary

Life Income With Period Certain Option

Life Income with Period Certain Option

Definition

A life insurance settlement option under which a beneficiary may have policy proceeds converted to a life annuity for the beneficiary with the benefit period based on the beneficiary's life expectancy and payments that continue for that period of time whether or not the beneficiary lives. Also known as lifetime income with period certain option.

Related Products

User ID: Subscriber Status:Free