Question

If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select

Answer 1

The settlement option that the beneficiary, who wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, is C) Fixed Period.

What are settlement options?

Settlement Options are choices of the policy owner when the insured lives to the endowment (maturity) date of the policy.

The settlement options become the choices of the beneficiary of the policy when the insured dies, especially, if the policy owner has not chosen one prior to death.

Answer Options:

A) Fixed Amount

B) Fixed Income

C) Fixed Period

D) Fixed Time

Thus, the settlement option that the beneficiary should select is C. Fixed Period.

Learn more about settlement options at https://brainly.com/question/6510596