Which of the following is NOT a settlement option for life policies?

Pure life income is a settlement option that provides the beneficiary with a series of payments for the remainder of their life. This option guarantees income until death, making it a secure choice for those needing consistent cash flow. It clearly serves as a settlement option for life insurance policies.

Life income with period certain is another settlement option that ensures the beneficiary receives payments for their lifetime, with a guaranteed minimum payment period. If the beneficiary dies before the end of this period, the remaining payments go to a designated beneficiary. This option provides both security and flexibility, classifying it firmly as a settlement option.

Fixed period is a settlement option that allows beneficiaries to receive payments over a predetermined time frame. After this period, payments cease regardless of the beneficiary's status, making it a viable choice for those who prefer a structured payout plan. This option is also recognized as a settlement option for life policies.