1.
If you ~ money, usually a large amount, you spend it on something.
...football clubs who ~ 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 ~ only after a period of weeks or months.
PHRASAL VERB: V P
3.
see also payout