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27 June, 12:13

Jasmine has deposited $100,000 into a single premium immediate annuity. If Jasmine were to die before receiving $100,000 in payments, the balance of the $100,000 would be paid to her sister. Jasmine has selected the:

A. Life Income Period Certain Option

B. Life Income with Refund Option

C. Life Income Joint and Survivor Option

D. Joint Life Option

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Answers (1)
  1. 27 June, 12:20
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    (B) Life Income with Refund Option

    Explanation:

    Life Income with Refund Option is a life insurance settlement option that guarantees a total amount due to the annuitant. If the annuitant dies before the total amount is disbursed, the remaining amount will be paid to the annuitant's beneficiary.
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