What is the term for a life insurance settlement option where the beneficiary receives fixed regular dollar amounts?

The term for a life insurance settlement option where the beneficiary receives fixed regular dollar amounts is known as the fixed-amount settlement option. This option allows the beneficiary to receive set payments over time until the policy's death benefit is exhausted. It provides a consistent and predictable stream of income, making it easier for the beneficiary to manage their finances following the policyholder's passing.

In contrast, the fixed-period settlement option pays out the death benefit over a predetermined period, but the payment amounts can vary based on the total amount of the benefit and the duration selected. The life income option focuses on providing a steady income for the lifetime of the beneficiary, which may involve a different calculation that takes into account factors like life expectancy. The installment payment option is a broader term encompassing various payment plans but does not specifically refer to the fixed dollar amounts that the fixed-amount settlement option does.

In summary, the fixed-amount settlement option is distinctive because it guarantees fixed dollar amounts to the beneficiary, offering both certainty and stability.