Definition - What does Fixed Benefits mean?
Fixed benefits are monetary payments that are delivered to the beneficiary of an insurance policy on a finite schedule and fixed amount. This means that the amount of money paid is determined by the policy and is not subject to changes.
Insuranceopedia explains Fixed Benefits
Many life insurance companies offer policies with fixed benefits as a form of financial planning, allowing policyholders to receive a fixed income during their retirement years.
In order to receive fixed benefits, a policyholder may have to pay into an annuity.
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