Life Income Option at Life

Life Income Option. Life only payments end after the death of the insured, so the balance of the settlement amount is left with the insurer. Term life insurance at your pace.

Lifetime income with period certain. Unlike with a life income option, you can choose the time period over which you want to receive payments and the amount of the payments. This option offers guaranteed regular income for a long term of 25 or 30 years plus return of premium at the end of payout period.

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This option offers guaranteed regular income up to age 99 years plus return of premium at the end of payout period. The beneficiary can choose among different periods (five, ten, 20 years) but the longer the period, the less the payment. Lifetime income with period certain. If the beneficiary chooses this settlement option, the insurance company will decide how much income the beneficiary will receive each year based on age and gender although the company may purchase an annuity instead.