The Settlement Option Chosen by Most Beneficiaries Is

question 143

Multiple Choice

The settlement option chosen by most beneficiaries is

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

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Definitions:

Durable

Capable of withstanding wear, pressure, or damage; made to last.

Power of Attorney

A legal document granting one person the authority to act on behalf of another person in legal or financial matters.

Incapacity

A lack of physical or mental ability to manage one's own affairs or to consent to a specific legal transaction.

Independent Contractors

Individuals or entities contracted to perform work for another entity as a non-employee, often responsible for their own taxes and insurance.