Question

Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? ASingle life BFixed-amount CLife income with period certain DJoint and survivor

Answer 1

The answer is: C) Life Income with period certain

Step-by-step explanation:

If someone chooses the Life Annuity (or Income) with Period Certain it means that the insurance company will pay you an annuity (or income) for as long as you live. But you can choose a period certain, which means that if you die before that time, your income will pass to your designated survivor until the period certain ends.