A settlement option for a life insurance policy can be

Question

Quizplus · Accepted Answer

The best choice for a settlement option for a life insurance policy depends on the policyholder's financial situation, goals, and needs. Therefore, any of these options can be the best choice for someone. A lump sum payment may be suitable for someone who needs immediate funds to cover expenses like funeral costs or pay off debts. Interest income for a period of time with the remainder paid at the end of the period of time can be beneficial for someone who wants a steady stream of income over a specific period, such as for a child's education. Income for life can be ideal for someone who wants a guaranteed income source for the rest of their life, such as for those with no other sources of income or dependents who need ongoing financial support.

A Settlement Option for a Life Insurance Policy Can Be