There are several different types of settlement made available by insurance companies upon the death of the insured. Of course, there is always a lump sum payment to the beneficiary. However, other settlement options seem more favorable to the insurance company, such as depositing the life insurance proceeds into a checking account held by the insurance company. Then the beneficiary may write "checks" upon the balance, in the meantime leaving the balance to be invested by the insurance company. The account is credited with interest.
If you are planning to take the Series 6, you must be familiar with the common types of life insurance settlement upon the death of the insured.
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