Life insurance settlement options provide the beneficiary several choices as to how the insurer will pay them the death benefits of the policy. Which of the following is not true about these options?
A. The choice can be made by the policyowner at the time of application.
B. The policyowner can change to another option any time before the death of the insured.
C. If no pre-selection is in effect at the time the insured dies, the insurer allows the beneficiary to choose the option.
D. The beneficiary can change to a second option if made within 6 months of the initial payout.
Ans: D. The beneficiary can change to a second option if made within 6 months of the initial payout.
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