Question

​If a beneficiary wants to make sure that the life insurance proceeds being paid out are not exhausted before he or she dies, the beneficiary would choose which of the following settlement options?

a. Fixed amount
b. Fixed income
c. Fixed time
d. Fixed period

Answer 1

Option d. Fixed period

Step-by-step explanation:

time is very essential. Anytime the policy owner specifies payment to be guaranteed for a specific period regardless of who is the beneficiary, policy owner or who receive the payment,is the fixed period settlement option.

Anything that occur to annuity after the owner's death is dependent on the type of annuity and its payout plan.

A fixed-period, is that which is for a certain period of time. the annuity guarantees payments to the annuitant for a set length of time. example is about 10, 15, or 20 years and case payments will continue to be paid to the beneficiary until the time given or period is due or when account’s balance reaches zero.