Life · Chapter 6 · Settlement Options
Fixed Amount Option
Definition
Proceeds remain at interest and pay a specified installment amount (e.g., $1,200/month) until principal and interest are exhausted. The income amount is the primary consideration; the larger the payment, the shorter the payout.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms