Collins COBUILD Advanced Learner's English Dictionary - pay out

1. If you pay out money, usually a large amount, you spend it on something. ...football clubs who pay out millions of pounds for players. PHRASAL VERB: V P n for/to n, also V P n 2. When an insurance policy pays out, the person who has the policy receives the money that they are entitled to receive. Many policies pay out only after a period of weeks or months. PHRASAL VERB: V P 3. see also payout