subject: insurance

Peter owns a whole-life insurance policy, for which he has to keep paying premiums for the rest of his life. However, at age 65, he retired. He does not have any dependable or any financial obligations to fulfil. All he wants is to live his retirement happy and not worry about money. What would your recommendation to Peter be?

Select one:

a. - Keep the policy and pick a life-income settlement option

b. - Surrender the policy, picking an extended term insurance option

c. - Surrender the policy, picking a cash settlement option

d. - Keep the policy and pick a cash dividends option