Yes, that is true. Hope this helps!
Answer:
interest only option
Explanation:
Interest only option -
In this settlement option , the company keeps the policy proceeds and pay the only pay the interests to the person during the regular interval , is known as the interest only option .
Same is the case given in the question ,
where ,
the policy owner need to be sure that the amount after his death , would be payed to his spouse and the principal amount to the children as soon as they reach a certain age , hence , the settlement option to be considered by the policy owner should be interest only option .
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Yea that’s right but they can only be president for 8 years
