Which statement best describes a lump-sum settlement option for life insurance proceeds?

Which statement best describes a lump-sum settlement option for life insurance proceeds?

• A. Death benefit is paid in a single upfront payment.
• B. Death benefit is converted into a guaranteed lifetime stream of payments.
• C. Payments are made for the lifetimes of two or more individuals.
• D. Payments are made for a fixed period following settlement.

Answer: (A)