What kind of life insurance policy pays a specified monthly income to a beneficiary for 30 years and then pays a lump sum benefit at the end of that 30 years?
What kind of life insurance policy pays a specified monthly income to a beneficiary for 30 years and then pays a lump sum benefit at the end of that 30 years?
A family income policy distributes the death benefit to your beneficiaries in monthly installments for a set period after you die, rather than in one lump sum.
