In life insurance, a settlement option under which all or part of the proceeds of a policy are left with the insurance company for a definite period at a guaranteed minimum rate of interest. The principal remains with the company for a specified period of time. Interest may be paid (usually subject to certain minimums) annually, semiannually, quarterly or monthly # or, in some cases, may be added to the proceeds.

Streamline compensation planning with salary benchmarking data in the cloud