Health and Life Insurance

Answer: C - The age of the beneficiary is not a factor in the case of a fixed period option. Fixed period options are affected by the principal amount, the interest earned, and the length of time the beneficiary would like to receive payments. The beneficiary receives payments of the principal amount and interest earned until the principal reaches zero. If the beneficiary should die before the final payment, any remaining payments will be made to the contingent or the beneficiary’s estate.