Monica and Eric purchased a joint first$-$to$-$die whole life insurance policy with a face value of $$250,000.$ The policy currently has a cash value of $$20,500.$ Unfortunately, Eric passed away from a sudden heart attack. What will happen to the policy, and what will Monica receive?

A

She will receive the $$250,000$ death benefit plus the cash value, and the policy will terminate.

B

She will receive the $$250,000$ death benefit, and the policy will terminate unless it allows her to continue coverage.

C

She will receive a $$270,500$ death benefit, and she will have the option to continue the policy with reduced coverage.

D

She will receive a $$270,500$ death benefit, and the policy will continue in her name on a paid$-$up basis.