What option allows a policyholder to receive an income stream from their life insurance policy before death?

The option that allows a policyholder to receive an income stream from their life insurance policy before death is the accelerated benefits option. This provision enables policyholders to access a portion of their death benefit while they are still alive, particularly in the event of a terminal illness or another qualifying condition. By accessing these benefits early, policyholders can use the funds for medical expenses, living costs, or other necessities during a critical time in their lives.

This feature is valuable because it provides financial support when it is most needed, potentially easing the burden of medical bills or other expenses that arise from a serious health condition. The accelerated benefits option helps to ensure that individuals can make the most of their policy while they are able.

The other choices do not serve the same purpose. The death benefit option pertains to how beneficiaries will receive the policy’s payout upon the policyholder's passing. A survivorship rider is typically a provision that covers two lives, providing a death benefit upon the death of the second insured. Lastly, a permanent withdrawal refers to taking money out of a cash value life insurance policy, which reduces the policy's death benefit and may not provide a structured income stream as the accelerated benefits do.