What is an example of a life insurance policy settlement option that provides regular payments for a specified time?

The correct choice is an example of a life insurance policy settlement option that allows for a predetermined period during which regular payments are made to the beneficiary. This option is known as the fixed period option.

In this arrangement, the insurance company will distribute monthly or yearly payments for a set time frame, which the policyholder or beneficiary selects at the time of the claim. This option is particularly appealing for beneficiaries who wish to receive consistent income over a defined duration, helping them manage their finances and expenses more effectively.

By contrast, other options like life income provide payments for the lifetime of the beneficiary, which doesn't fit the specified time aspect. Lump sum payment involves a single large payment rather than regular intervals, and interim cash typically refers to temporary payments made under specific circumstances or to cover immediate expenses. The fixed period option distinctly meets the requirement of offering regular payments over a specified duration, making it the appropriate choice.