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