instalments of insurance


instalments of insurance
Payments of a stated amount at recurring intervals, such as disability benefits payable under a policy of life or accident insurance. 29A Am J Rev ed Ins § 1508. Fixed instalments of the proceeds of a life insurance policy paid at regular intervals; not constituting an annuity, unless the person entitled to the proceeds has himself made a contract with the insurer, separate and distinct from the insurance policy, for the payment of the proceeds in instalments, can properly be regarded as an annuity. Commonwealth v Beisel, 338 Pa 519, 13 A2d 419, 128 ALR 978.

Ballentine's law dictionary. . 1998.

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