Want this question answered?
annuity
It's just what it sounds like. This would be a method of cancelling a policy and receiving the accumulated funds for a period of time instead of all at once.
premium
An annuity settlement is a financial or insurance arrangement where the insured party receives periodic payments from the accused. The accused may then transfer their periodic payment responsibilities to an organized settlement organization.
A structured settlement is a financial or insurance arrangement whereby payment is made by a series of periodic payments. Structured settlements are now commonplace in product liability or injury insurance claims.
annuity
It's just what it sounds like. This would be a method of cancelling a policy and receiving the accumulated funds for a period of time instead of all at once.
That could be an annuity, or a permanent life insurance policy.
premium
As you have described it, this sounds very similar to an annuity.
Whole Life, Universal Life, as well as Annuities can be used for this purpose.
Whole Life, Universal Life, as well as Annuities can be used for this purpose.
Whole Life, Universal Life, as well as Annuities can be used for this purpose.
Variable annuity is a life insurance plan where you make series of monthly payments or a lump sum. and in return the insurance company makes periodic payments to you immediately or in the near future.
An annuity settlement is a financial or insurance arrangement where the insured party receives periodic payments from the accused. The accused may then transfer their periodic payment responsibilities to an organized settlement organization.
A structured settlement is a financial or insurance arrangement whereby payment is made by a series of periodic payments. Structured settlements are now commonplace in product liability or injury insurance claims.
There is a rider that comes with some life insurance policies called a waiver of premium rider where the insurance company will pay your premiums if you become disabled. Here is a good article that describes how this works: