Who is currently empowered to select the settlement option for the whole life insurance policy?

The policy owner holds the authority to select the settlement option for a whole life insurance policy. Settlement options refer to the various ways in which the death benefit can be paid to the beneficiaries, such as in a lump sum or through an annuity. This decision is a crucial aspect of the policyholder's rights and responsibilities.

In this context, since Brenda is identified as the policy owner, she has the legal right to determine how the benefits will be distributed upon the insured's death, making her the correct choice in this scenario. The involvement of family members or the insurance company does not alter the fact that settling the policy's benefits ultimately resides with the policy owner. This choice empowers Brenda to shape how her financial legacy is delivered according to her wishes.