What is Benefit Payment?
Benefit Payment A disbursement made by an insurer to a policyholder or beneficiary as specified by the terms of the insurance policy, usually upon occurrence of an insured event.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Benefit Payment” Used in Practice?
The insurer processed the benefit payment to the beneficiary following the submission of required claim documents.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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Download Free for iOSFrequently Asked Questions
What is Benefit Payment?
A disbursement made by an insurer to a policyholder or beneficiary as specified by the terms of the insurance policy, usually upon occurrence of an insured event.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Benefit Payment and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
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