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Health and Life Insurance

Category - Annuities & Policies

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David and his brother Jacob are joint beneficiaries of their grandmother’s life insurance policy. While Jacob is single, David is newly married and wants to make sure proceeds will last for his life as well as his wife’s life if he should die. Which option would be best for David?

Joint and survivor life income option
Refund life insurance option
Straight annuity option
Life certain option

Explanation

Answer: A - David should select a joint and survivor life income option. This option will allow for payments as long as David and/or his wife are alive. The joint and survivor life income option will continue to pay benefits to either David or his wife if one of them dies.

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Health and Life Insurance

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