Relative to insurance,when a payout arrangement is made in which one receives all benefits in a single payment,this is called a

Question

Quizplus · Accepted Answer

The term "lump-sum option" refers to a payout arrangement in which all benefits are received in a single payment. This is a common option in various types of insurance policies, such as life insurance or pensions, and can provide the recipient with greater flexibility and control over how they use the funds.

Relative to Insurance,when a Payout Arrangement Is Made in Which