The ____ settlement option specifies that the insurance company pay out the total amount of the death benefit immediately after death.

Question

Quizplus · Accepted Answer

The lump-sum settlement option specifies that the insurance company pay out the total amount of the death benefit immediately after death, which can help beneficiaries cover any immediate expenses or debts. The other options involve receiving payments over time, which may not be as useful in an emergency situation.

The ____ Settlement Option Specifies That the Insurance Company Pay