The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the beneficiary on a monthly basis is called

The lump sum option involves paying the entire death benefit amount to the beneficiary at once. This choice does not allow the insurer to retain any proceeds; instead, the full amount is immediately available to the beneficiary, which does not align with the question’s stipulation of proceeds remaining with the insurer.

With the fixed period option, the insurer pays the beneficiary a set amount over a specific duration. While this provides a predictable income stream, it requires a portion of the principal to be disbursed, contradicting the requirement that proceeds remain with the insurer.

The fixed amount option allows the beneficiary to receive a predetermined sum at regular intervals until the principal is exhausted. Similar to the fixed period option, this choice involves disbursing parts of the principal, which means the insurer does not retain the full proceeds as specified in the question.