1.0Vital Statisticshttps://www.vitalstatistics.infoPaul watsonhttps://www.vitalstatistics.info/author/paul-watson/Types of Term Insurance Payout Options Explained - Vital Statisticsrich600338<blockquote class="wp-embedded-content" data-secret="VktMtYLeqD"><a href="https://www.vitalstatistics.info/types-of-term-insurance-payout-options-explained/">Types of Term Insurance Payout Options Explained</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://www.vitalstatistics.info/types-of-term-insurance-payout-options-explained/embed/#?secret=VktMtYLeqD" width="600" height="338" title="“Types of Term Insurance Payout Options Explained” — Vital Statistics" data-secret="VktMtYLeqD" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
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https://www.vitalstatistics.info/wp-content/uploads/2022/03/Untitled1.png900506When you buy a new term insurance policy, you may invariably compare the benefits offered, the premium charges, etc. However, another critical aspect that you must consider is the payout options offered by the insurance company. Generally, most insurers offer three payout options, which are discussed below: One-time lump sum payout As the name suggests, in this payout option, in the event of your demise during the policy period, the insurance company pays the entire sum assured, i.e., the death benefit, to the nominee in a single instalment. Generally, most policy buyers opt for this payout option. Getting the 100% […]