Solved:
Answered by AI, Verified by Human Experts
All of these Settlement options involve the systematic liquidation of the death proceeds in the event of the insured's death EXCEPTO Fixed PeriodO Interest OnlyO Fixed AmountO Life Income
All of these Settlement options involve the systematic liquidation of the death proceeds in the event of the insured's death EXCEPTO Fixed PeriodO Interest OnlyO Fixed AmountO Life Income
interestonly does not systematically liquidate.The interest-only loanBorrowerswho take out interest-only mortgages are only obligated to pay back the interest accrued over the loan's term. The loan must be repaid in full at the conclusion of the loan term; payments do not affect the loan balance.Becauseinterest-onlymortgage payments are smaller than those for conventional mortgages, borrowers have greater flexibility in setting their budgets.Because the overall cost of interest is higher with interest-only mortgages, they may end up costing more over time.Additionally, borrowers need to be aware that if property values drop, they might not be able to refinance or sell the home without paying the difference between the loan sum and the home's worth.Some borrowers may find interest-only mortgages to be a useful choice, but because there is no systematic liquidation, borrowers should carefully assess the risks involved before taking out this kind of loan.Additionally, borrowers must make sure to make their payments on time because late payments might lead to foreclosure.To learn more aboutinterest-only loanrefer to:brainly.com/question/13334023#SPJ4...