Fixed Benefits

What Does Fixed Benefits Mean?

Fixed benefits are monetary payments provided to the beneficiary of an insurance policy on a predetermined schedule and for a specified amount. This means that the payment amount is determined by the terms of the policy and remains unchanged throughout the payout period.

Insuranceopedia Explains Fixed Benefits

Many life insurance companies offer policies with fixed benefits as a financial planning tool, enabling policyholders to receive a consistent income during their retirement years.

To receive fixed benefits, a policyholder may need to invest in an annuity.