The alternative ways that a beneficiary can choose to receive the policy benefits upon the death of the insured are called

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Settlement options are the alternative ways that a beneficiary can choose to receive the policy benefits upon the death of the insured. These options include lump-sum payments, installment payments, annuities, and various other types of arrangements. Of these options, the best choice will depend on the specific circumstances of the beneficiary and their financial needs. It is important for the beneficiary to carefully consider their options and seek the advice of a financial professional before making a decision.

The Alternative Ways That a Beneficiary Can Choose to Receive