Which of the following has the right to change a settlement option in a life
insurance policy?
O
A. A beneficiary at any time
B. The policyowner at any time during the life of the insured
O
C. The insured
O
D. A beneficiary after the policyowner's death

Question

01-06-2024
Social Studies

Answered

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Which of the following has the right to change a settlement option in a life
insurance policy?
O
A. A beneficiary at any time
B. The policyowner at any time during the life of the insured
O
C. The insured
O
D. A beneficiary after the policyowner's death

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-06-01T16:00:21-04:00

Final answer:

The policyowner can change the settlement option in a life insurance policy as desired.

Explanation:

The policyowner at any time during the life of the insured has the right to change a settlement option in a life insurance policy. This means that the individual who owns the policy can make alterations to how the benefits are paid out.

For example, if the policy owner initially chose a lump sum payment but later decides they prefer periodic payments, they have the authority to make that change.

This ability gives flexibility to the policy owner to adjust the settlement option according to their financial circumstances or preferences.

Learn more about life insurance policy settlement options here:

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Sagot :

Final answer:

Explanation:

Learn more about life insurance policy settlement options here:

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