Question: J is receiving fixed amount benefit payments from his late wife's insurance policy. He was told that if he dies before all of the benefits

J is receiving fixed amount benefit payments from his late wife's insurance policy.
He was told that if he dies before all of the benefits are paid, the remaining amount
will go to the contingent beneficiary. Which settlement option did J choose?
A. Fixed Amount
B. Joint and Survivor
C. Interest Only
D. Fixed Period
J is receiving fixed amount benefit payments from his late wife's

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

The following balance sheet is presented for J.D.F Company as of December 31, 2011. During 2012, J.D.F entered into the following transactions.Made credit sales of $1,350,000 and cash sales of...

Q:

Please help with the following questions related to the attached financial statements:...

Q:

Estimating Useful Life and Percent Used Up The property and equipment footnotes from the Deere & Company balance sheet follows The property and Depreciation A summary of property and equipment at...

Q:

571 Case 16 The Maria and Sancho Ruiz Case COMPREHENSIVE FINANCIAL PLANNING CASE Maria and Sancho anticipate living until Sancho is ninety-five years Maria Ruiz recently turned age fifty. She heard...

Q:

Read the following sample life insurance policy: Whole Life Complete the worksheets for each sample policy. Whole Life Policy Worksheet FIN/428 Version 1 University of Phoenix Material Sample Whole...

Q:

Question 1.Which of the following plans provide the greatest immediate tax benefit for the participating employee? (1) Roth IRA (2) deductible IRA (3) non-deductible IRA (4) 401(k) a. (1) and (3)...

Q:

Read the following sample life insurance policies: Universal Life Whole Life Complete the worksheets for each sample policy. Universal Life Policy Worksheet FIN/428 Version 1 University of Phoenix...

Q:

Answers must be between 200-250 words only. Need for the answer to stay within the guidelines and not be copied directly from another source. Universal Life Policy Worksheet FIN/428 Version 1...

Q:

Helen Caldicott raises a family and then begins a career as a caterer. As her business grows, she hires several employees and rents space near downtown that has a retail space, parking, and a garage...

Q:

insurance 240 king saud uni ( ksu ) just the T or F questions CH 15 Health Care and Individual Health Insurance QUESTION one ( Multiple choice) 1- Hospital expense coverage is written a) Only on an...

Q:

Please answer the following questions which is on Life Insurance and Taxation 1)Tom and Hailey had been married for five years. Four years ago, Tom purchased life insurance on Hailey who was...

Q:

Some economists maintain that the returns to additional years of education are actually quite small but that there is a substantial "sheepskin" effect whereby one receives a higher salary with the...

Q:

If you were going into business for yourself, what would be your core competencies? What competencies do you have now, and what competencies are you going to develop? Describe what your role would be...

Q:

Dividends and Taxes (LO2) Pandosy Inc. has declared a $4.80 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 15 percent. Pandosy sells for $68.20 per share, and the...

Q:

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...