Supplementary Contracts May Be Issued by an Insurer Upon the Termination

Supplementary contracts may be issued by an insurer upon the termination of a life insurance contract that has been terminated by death, maturity, or surrender. The policyholder, if living or the beneficiary elects the option under which the proceeds are paid. The payment options usually available are:

A) To receive a guaranteed fixed number of payments
B) To receive payments of a certain amount until the proceeds are exhausted.
C) To leave the proceeds with the insurer to earn interest with payment to be made at a later date.
D) Any one out of these