Final answer:
The maximum fine for violating the Insurance Code regarding life settlements is $50,000 for each settled policy. The answer is option C.
Step-by-step explanation:
The maximum fine for violating the Insurance Code regarding life settlements is $50,000 for each settled policy. Violating the Insurance Code can have serious consequences in terms of fines and penalties.
However, the actual fines may be outlined in the relevant insurance regulations or statutes specific to the jurisdiction in question. Always check the latest legal documents or consult legal professionals for the most accurate and up-to-date information on fines related to life settlements.