The payout of the sum assured is based on the type of payout option selected at the time of purchase of the term plan. (coverfox.com)
The problem, of course, is how we loosely use the term dividends to describe any type of payout from stocks, mutual funds, savings accounts, or other investments. (novelinvestor.com)
This means that the insurance company will calculate the amount of payout based on her age and this amount is fixed for her entire life. (quotacy.com)