Z chooses a life income with 10 year period certain settlement option for the annuity Z owns. Z dies after 15 years of receiving income benefit payments. What does Z’s beneficiary receive?

Insurance

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Z chooses a life income with 10 year period certain settlement option for the annuity Z owns. Z dies after 15 years of receiving income benefit payments. What does Z’s beneficiary receive?

A

Nothing

B

10 years’ worth of payments

C

5 years’ worth of payments

D

Lifetime income

Answer: A

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