In the event of an insured's death, which option provides ongoing income for the family followed by a lump sum death benefit?

The option that provides ongoing income for the family followed by a lump sum death benefit is the family income rider. This rider is typically attached to a life insurance policy and is designed to help provide financial support for a specified period after the insured's death.

Upon the insured's passing, the family income rider pays monthly benefits to the beneficiary for a predetermined period, allowing the family to maintain their standard of living during a time of loss. After this income period is over, a lump sum death benefit is also paid out, which can help cover any remaining financial needs or obligations, offering a comprehensive financial solution.

This structure differentiates it from other available options, as the term rider generally provides only term coverage without additional income benefits. The survivor benefit rider might offer additional payouts under certain conditions, but it does not typically function as a source of ongoing monthly income followed by a lump sum. Lastly, a cash value policy accumulates cash value over time but does not inherently provide the specific income continuation and lump sum arrangement mentioned in the question.