Life · Chapter 6 · Settlement Options
Straight (Pure) Life Income
Definition
Installments for as long as the beneficiary lives; payments stop at death — no refund, even after a single payment. Remaining proceeds are forfeited to the insurer.
Exam tip
Greatest risk, but the HIGHEST income per $1,000 — nothing is held back for guarantees.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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