With a lump-sum payment, the insurance company pays the face amount of the policy in one installment to the beneficiary or to the estate of the insured.

Name: With a lump-sum payment, the insurance company pays the face amount of the policy in one installment to the beneficiary or to the estate of the insured.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A lump-sum payment means the entire face amount is paid out in one installment to the beneficiary or the estate of the insured.

With a Lump-Sum Payment, the Insurance Company Pays the Face