Norris is the primary beneficiary of a life insurance policy. He dies after receiving $275 per month for 6 years, under a 10-year period certain income option. His son, Neil, is the secondary beneficiary. Which of the following statements pertaining to this situation is CORRECT?

A) Neil will receive $275 per month for as long as he lives.
B) Neil will receive a lump-sum payment of $13,200.
C) Neil will receive income checks in the same amount as his father for 4 years.
D) Neil will receive nothing, since Norris did not survive the 10-year period certain."

Ans: C) Neil will receive income checks in the same amount as his father for 4 years.