Which settlement option guarantees that payments continue for a certain period regardless of the recipient's lifespan?

The life income with period certain option is designed to ensure that payments are made for a specified number of years, regardless of whether the recipient is alive or not. This type of settlement option offers financial security by providing a combination of guaranteed income for a set period alongside the possibility of continued payouts for the recipient’s lifetime.

If the beneficiary passes away before the guaranteed period ends, the payments will continue to be made to a designated beneficiary for the remaining time. This feature is particularly beneficial for policyholders who want to ensure that their loved ones receive a certain amount of benefit even if they die early.

In contrast, the life income option only guarantees payments for the recipient's lifetime, without a minimum guarantee, which risks the possibility of no payments if the individual passes away prematurely. Other options like lump sum payment and fixed amount options do not provide any guarantee related to lifetime payments or specific periods for distribution, focusing instead on one-time payouts or fixed amounts that may not continue past the life of the insured.