Insurance Glossary | ||||||
Facility-of-payment clauseA life insurance policy provision that permits an insurer to pay all or part of the policy proceeds either to a blood relative of the insured or to anyone who has a valid claim to those proceeds. The facility-of-payment clause enables the insurer to pay benefits in a timely manner when such benefits cannot be made to the beneficiary identified in the insurance contract.Copyright © 2001-2005 Free Online Insurance Quotes. All Rights Reserved. | Insurance Quotes Auto Insurance Boat Insurance Burial Insurance Business Insurance Dental Insurance Disability Insurance Health Insurance Homeowners Insurance Long Term Care Motorcycle Insurance Renters Insurance Survivorship Life Term Life Insurance Travel Insurance Universal Life Insurance Variable Life Insurance Whole Life Insurance | |||||