L&HMImedium
Which Michigan life insurance settlement option pays a guaranteed income for the beneficiary's lifetime with no period-certain guarantee?
AFixed-period option paying over a stated number of years
Pure life income (straight life) option
CFixed-amount option paying a set dollar amount until proceeds exhaust
DInterest-only option with principal held intact
Why this is the answer
Among standard Michigan settlement options, the pure (straight) life income option pays the largest periodic amount but ceases at the beneficiary's death with no refund or guarantee, so early death forfeits the remaining proceeds.
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