Question 17

Joint and Survivor pays a benefit as long as one of the insureds is living.

This settlement option ensures that as long as at least one of the insured individuals is alive, a benefit will continue to be paid out. This makes it a suitable choice for couples or partners who wish to secure ongoing financial support for the survivor.

A) Family Term

Family Term typically refers to a temporary coverage policy that pays out a death benefit within a specified term, but it does not provide ongoing benefits as long as one of the insureds is living. Therefore, it does not meet the criteria of the question.

B) Joint and Survivor

Joint and Survivor is specifically designed to continue paying benefits as long as one of the insured individuals remains alive. This makes it the correct answer, as it directly satisfies the condition stated in the question.

C) Life Income

Life Income refers to a payout structure that provides a regular income to an individual for their lifetime. However, this option does not apply to multiple insureds or continue payouts based on the living status of another insured, making it an incorrect choice for the question.

D) Single Life

Single Life policies provide benefits only upon the death of the insured individual. Since this option does not offer ongoing benefits linked to the survival of another insured, it does not align with the requirements specified in the question.

Conclusion

Joint and Survivor is the only option that fulfills the requirement of providing benefits as long as one of the insureds is alive, making it the definitive correct answer. All other options either offer limited or no ongoing benefits based on the living status of multiple insured individuals, thus failing to meet the criteria outlined in the question.