Which of the following is NOT a payout option for death proceeds?

The option identified as dividend-only is not a standard payout option for death proceeds in the context of life insurance or funeral prearrangement. Payouts are typically structured to provide the beneficiaries with accessible financial support immediately upon the policyholder's death.

A lump sum payment gives the beneficiaries all the proceeds at once, offering them flexibility in managing the funds. Fixed amount installments allow beneficiaries to receive a specified sum periodically until the death benefit is exhausted, providing consistent support over time. Life income options may guarantee a regular income for the beneficiary's lifetime, which can be particularly beneficial in ensuring financial stability.

In contrast, the dividend-only option refers specifically to a situation where dividends from a policy are used for benefits rather than a direct payout of the death benefit itself. This distinction places it outside the common options available to beneficiaries at the time of a insured's death. Thus, it is not considered a traditional payout method for death proceeds but more as an ancillary feature of certain insurance policies.