How many different options are there available for the payment of life insurance proceeds for a death claim to the designated beneficiary?
A)Three.
B)Five.
C)Seven.
D)Eleven.

Question

Quizplus · Accepted Answer

There are generally five primary options available for the payment of life insurance proceeds: lump sum, specific income provision, life income option, interest income option, and fixed amount option. These options provide flexibility in how beneficiaries can receive the death benefit, catering to their financial needs and circumstances.

How Many Different Options Are There Available for the Payment