The Alternative Ways That a Beneficiary Can Choose to Receive

question 124

Multiple Choice

The alternative ways that a beneficiary can choose to receive the policy benefits upon the death of the insured are called

• A)premium options.
• B)settlement options.
• C)terminal options.
• D)residual options.
• E)none of the above.

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Definitions:

Subsidiary Corporation

A company that is completely or partly owned and wholly controlled by another company, known as the parent company.

Holding Company

A company created to buy and own the shares of other companies, which it then controls.

Board of Directors

A group of individuals elected to represent shareholders and govern the affairs of a corporation.

Operations Combine

The integration of different business operations or activities to achieve greater efficiency or synergy.