Rather than awarding a single lump-sum payment to settle a liability claim, scheduled future payments may be used. The future payments may be unequal amounts or a deferred annuity. What specific name is given to these scheduled future payments awarded rather than a lump sum?

An important mathematical principle is the foundation of private insurance. This principle states that as the sample size increases, the deviation between actual results and expected results (objective risk) declines. What is this important mathematical principle called?