Assignment: Chapter 18 The following is an excerpt from a hypothetical conversation between an insurance agent and a client who is in the final stages of purchasing a $200,000 whole life insurance policy. FW in the blanks to provide the correct information regarding key features or Me insurance policies, AGENT: We need to discuss a few things before finalizing your policy. First, the beneficiary cause. Who would you like to name as your beneficiary, that is, the person who will receive the entire death benefit? CLIENT: That would be my wife, Susan AGENT: Okay, an in the event that she does not outlive you the benefits will be distributed among your beneficiaries. Who will those be? CLIENT: My children AGENTI Excellent. Now, how would you like your benefits to be distributed? We offer lump sum, interest-only, fixed-period, fixed-amount, and wife-income payments CLIENT: Well, I'd like my beneficiaries to receive payments for the rest of my wife's life. CLIENT: My children. AGENT: Excellent. Now, how would you like your benefits to be distributed? We offer lump sum, interest-only; fixed-period, fixed-amount, and life-income payments. CLIENT: Well, I'd like my beneficiaries to receive payments for the rest of my wife's life. AGENT: In that case, I recommend settlement option CLIENT: Okay, good to know. And if I choose to terminate the policy before maturity, do I receive the cash value? AGENT: CLIENT: Got it. Anything else? AGENT: You're all set