Which option provides a single beneficiary with income for the rest of his/her life?

The single life option is designed to provide a specific individual with a guaranteed income for the remainder of their life. This means that upon the death of the insured, the beneficiary will continue to receive payments for as long as they live, regardless of how long that may be. This type of option is especially beneficial for ensuring financial security for a dependent or a loved one, as it guarantees a steady income stream that continues until the beneficiary passes away.

In a joint life option, benefits are typically paid until the first insured person passes away, making it less favorable for a single beneficiary who requires ongoing support after that event. The single beneficiary option and the one beneficiary option are not standard terminologies used in life insurance and typically do not refer to recognized plan types. Therefore, they do not adequately describe the arrangement that guarantees lifelong income for one designated beneficiary, which is uniquely defined by the single life option.