Tom elects the Life Income with 10-year Period Certain settlement option. Tom dies in year 6. The beneficiary receives payments

Question

zzz [600]

3 years ago

12

Tom elects the Life Income with 10-year Period Certain settlement option. Tom dies in year 6. The beneficiary receives payments

for _______.
A. Life
B. 4 years
C. 10 years
D. 6 years

Business

1 answer:

Trava [24] · Answer 1 · 2022-03-19T12:11:17+03:00

Answer:

B. 4 years

Explanation:

Based on the information given about Tom in which we were been told that he elects the Life Income with a 10 year settlement option in which Tom dies in year 6, this means that

the beneficiary receives payments for 4 years calculater as:

Life Income 10 year Period- The year it took Tom to die which is year 6 which will eventually give us 4 years.

Therefore beneficiary receives payments for 4 years.