The Settlement Option That Pays the Life Insurance Proceeds to the Beneficiary

question 25

Multiple Choice

The settlement option that pays the life insurance proceeds to the beneficiary for as long as she or he lives is called

• A) Lump-sum payment.
• B) Limited installment payment.
• C) Final life payment.
• D) Life income option.
• E) Proceeds left with the company.

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Definitions:

Projective Test

is a type of psychological assessment that uses ambiguous stimuli to elicit responses that reveal aspects of an individual's personality.

Ambiguous Stimuli

Stimuli that can be understood in more than one way and often require interpretation by the individual.

Objective

Something that is based on factual evidence, uninfluenced by emotions or personal prejudices.

Three-Dimensional

Having or appearing to have length, breadth, and depth.