Final answer:
The statement that is NOT true regarding the joint and survivor life insurance settlement options is option D. The amount of each installment is larger than the single life income option.
Step-by-step explanation:
The statement that is NOT true regarding the joint and survivor life insurance settlement options is option D. The amount of each installment is larger than the single life income option.
In joint and survivor life insurance settlement options, the income continues until the last beneficiary dies, two or more beneficiaries can be paid, and the age of beneficiaries plays a factor when determining the payment amounts. However, the amount of each installment in the joint and survivor life insurance settlement option is typically lower than the single life income option.