Final answer:
The life annuity with no beneficiaries will provide the highest fixed income at annuitization.
Step-by-step explanation:
The annuitization settlement option that will give the highest possible fixed income is the life annuity with no beneficiaries.
A life annuity is a contract between an individual and an insurance company where the individual pays a lump sum or makes periodic premium payments to the insurance company, and in return, the insurance company guarantees to make regular payments to the individual for the rest of their life.
The option with no beneficiaries means that the annuity payments will stop upon the death of the annuitant, resulting in a higher monthly payment compared to other settlement options that continue payments to beneficiaries after the annuitant's death.