An Insured Has Chosen Joint And 2/3 Survivor As The Settlement Option.What does this mean to the beneficiaries

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An Insured Has Chosen Joint And 2/3 Survivor As The Settlement Option. What does this mean to the beneficiaries

 Options:

  • A. the beneficiary will receive 2/3 of the lump sum up front, and the remaining 1/3 will be paid over time
  • B. The beneficiary will receive 2/3 of the total benefit, with the final 1/3 payable when the first beneficiary dies
  • C. One of the beneficiaries will receive 1/3 and the other 2/3 of the proceeds when the insured dies
  • D. The surviving beneficiary will continue receiving 2/3 of the benefit paid when both beneficiaries were alive

The Correct Answer Is:

  • D. The surviving beneficiary will continue receiving 2/3 of the benefit paid when both beneficiaries were alive

Conclusion

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