Fixed amount option refers to a type of life insurance that allows the policyholder to choose a fixed amount of coverage at the time of policy purchase. This option allows the policyholder to lock in a specific amount of coverage and premium payments, without the need for additional underwriting or medical exams. The policyholder is guaranteed the amount of coverage selected, regardless of any changes in their health. Fixed amount options can provide a convenient and cost-effective solution for individuals who know how much insurance coverage they need and want to avoid the hassle of frequent medical exams or underwriting.
