A Scheme whereby a Marine insurance may be endorsed to provide for claims to be settled by a claims settling agent at a named place abroad.
Insurance Encyclopedia
Settlement option
Method in which a policyholder or beneficiary may choose to have an insurance policy’s proceeds paid.
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An option in an insurance policy as to the form in which a claim may be settled. Thus, in property insurance, the insurer may commonly choose whether to pay, replace or make good.
Settlement option payments
Periodic payments of life insurance policy proceeds to the insured by an insurance company instead of a lump-sum payment.
Settlement option table
Table showing amounts the insurance company will pay as periodic payments in settling a life insurance policy.
Settlement options
Methods of payments of life insurance policy proceeds to the beneficiary by an insurance company such as a lump sum or periodic payments.
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US: The several ways, other than immediate payment in cash, which a policyholder or beneficiary may choose to have policy benefits paid.
Settlement options (Life Insurance)
Alternatives to a lump sum payment of a policy’s payout.
Settling Agent
A person authorized by an insurer to pay claims on the insurer’s behalf.
Settlor
See: trustor .
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One who settles property on another by means of a trust.