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:

Discrete

Relating to data or variables that represent distinct values, often countable and not continuous.

True (On) Or False (Off)

This refers to binary states in digital systems, with "True (On)" indicating an active or high state and "False (Off)" indicating an inactive or low state.

Redundant PLC System

A PLC setup where multiple processors or systems are used in parallel to ensure continued operation in case one fails.

Two Processors

A system configuration that involves two central processing units (CPUs) working together, often to increase performance or provide redundancy.