Oklahoma Life Producer Practice Exam

In a family income policy, the calculation of the remaining period of benefits for the survivor is based on a standard duration of coverage, which is often set at 20 years. When a benefit has already been utilized, the remaining period for which the income will be provided is determined by subtracting the amount of time benefits have already been paid from this total period of 20 years.

This approach ensures that the survivor benefits continue for a fixed total duration, providing stabilization for financial needs during a time of loss. By using this method, the insured family can be assured of a continuous source of income support that lasts until the full term is met, or until the beneficiary reaches a pre-determined age or financial condition.

In contrast, calculations based on subtracting from 10 years, multiplying by remaining coverage, or adding the used period to 20 years do not align with the established framework for family income policies. Hence, the correct answer aligns with the standard practice in framing these insurance products to ensure adequate support for the family.