The most widely used settlement option for a life insurance program is the lump-sum payment.

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The lump-sum payment is indeed the most commonly used settlement option for a life insurance program. This option pays out the entire death benefit to the beneficiaries in one sum. Other settlement options include periodic payments, interest-only payments, and life income options. However, these are not as popular as the lump-sum option.

The Most Widely Used Settlement Option for a Life Insurance