The Settlement Option Chosen by Most Policyholders Is

question 34

Multiple Choice

The settlement option chosen by most policyholders is:

• A) lump sum.
• B) interest only.
• C) fixed amount.
• D) fixed time.
• E) life income.

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Definitions:

Widowhood

The state of having lost one's spouse through death, which can have significant effects on social, emotional, and financial aspects of the surviving partner's life.

Hospice

An approach to end-of-life care that emphasizes a dying patient’s need for pain management; psychological, spiritual, and social support; and death with dignity.

Parameters

Limits or boundaries that define the scope of a particular process or activity; in statistics, numerical or measurable factors that define a system.

Ageist Attitude

Prejudice or discrimination on the basis of a person's age.