ary Of A Li c e .com pter 7 HW MC Qu. 19 You are the beneficiary of a.. Help Save Exit Submit You are the beneficiary of a life insurance policy. The insurance company inform you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $200,000 today or receive payments of $1400 a month for 20 years. You can eam a 6-percent annual rate on your money, compounded monthly. Which option should you take and why? Multiple Choice You should accept the monthly payments because they are worth $336,000 to you. You should accept the $200,000 lump sum because the monthly payments are only worth $189.31 to you today. o oo oo You should accept the $200,000 lump sum because the monthly payments are only worth $16,057 to you today. You should accept the monthly payments because they are worth $209,414 to you. None of the options are correct.