Answered

In 2017, Martha began receiving lifetime income from her annuity contract under the single life annuity with 10-year period certain option. She had been receiving $1,000 per month before she died. Which one of the following statements is correct regarding payments to her beneficiary? A) Martha's beneficiary will receive $1,000 per month for life. B) Martha's beneficiary will receive $500 per month until 2027. C) There are no remaining payments to be made to a beneficiary. D) Martha's beneficiary will receive $1,000 per month until the policy anniversary in 2027.