Which funding option allows contributions over time instead of a lump sum?

The correct choice is Periodic Payments, as this funding option allows individuals to make contributions or payments over a designated time period rather than requiring a single lump-sum payment. This approach is particularly beneficial for those who prefer to spread out their financial commitments, making it easier on their budget and allowing for more manageable investment over time.

Periodic payments can be used in various financial products, such as insurance policies or retirement accounts, enabling policyholders or contributors to allocate their funds gradually while potentially benefiting from investment growth during the accumulation phase. This method is especially useful when planning for long-term financial goals, as it allows individuals to adapt their contributions based on changing financial circumstances.

In contrast, options like the Immediate Annuity and Single Payment are characterized by one-time contributions, either at the outset or as a lump sum payment. The Death Benefit Option does not pertain to funding methods for contributions but refers instead to the benefits payable to beneficiaries upon the death of the policyholder.