When Mary chose the life income settlement option after her husband’s death, which factor would NOT determine her payment amount?

The life income settlement option provides a stream of income for the beneficiary based on several critical factors that influence the amount of each payment. These factors include Mary's life expectancy and projected interest rates, as both significantly determine how much the insurer will calculate for each payment.

Mary's life expectancy is essential because the longer she is expected to live, the smaller the monthly payment will be to ensure the funds last for her lifetime. Projected interest rates also play a role; higher interest rates may increase the total available funds for payouts, resulting in larger monthly payments.

The face amount of the policy directly affects the payout since it is the total value of the life insurance that will be used to calculate the benefits Mary will receive. A larger face amount means a higher potential income.

However, John's age at death does not directly influence Mary's payment amount under this option. Once the policy is in effect and the death benefit is determined, the specifics of John's age at the time of death do not affect how those funds will be distributed to Mary as the beneficiary. Thus, it is clear that this factor would not determine her payment amount.