Policy Riders, Provisions, Options, and Exclusions
A beneficiary wants equal installments of proceeds and interest for a selected number of years. Which settlement option fits?
Answer and explanation
Answer: A. Under a fixed-period settlement, the insurer pays proceeds plus interest in equal payments over the period selected. Interest-only leaves principal with the insurer, while the other choices are not death-benefit settlement options.Source: Texas Department of Insurance — Life Insurance Guide — How life insurance pays the death benefit > Fixed period
More policy riders, provisions, options, and exclusions questions
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