Which of the following is NOT a settlement option for life insurance?

The investment option is not considered a standard settlement option for life insurance policies. Settlement options refer to the various ways beneficiaries can receive the death benefit from a life insurance policy after the insured person's passing.

The lump-sum cash option allows the beneficiary to receive the full amount of the death benefit at once, providing immediate access to funds. The fixed-period option allows payments to be distributed over a specified number of years, providing a steady stream of income for that duration. The interest-only option allows the insurance company to retain the death benefit and pay interest on it to the beneficiary, with the principal being paid out at a later date.

These recognized settlement options focus on the disbursement of benefits, while an investment option typically refers to a way of managing funds or assets for growth, which falls outside the conventional framework for life insurance settlements.