Which of the following best describes an installment payment option?

The installment payment option is designed to provide beneficiaries with regular, scheduled payments instead of a single lump-sum payment following the policyholder's death. This can help beneficiaries manage the funds more effectively, as it allows for a steady income stream over time, which can be beneficial for budgeting and financial planning after the loss of the policyholder.

This option contrasts with a lump sum, where the entire benefit amount is paid out at once. Prepayment of premiums relates to the payment of premiums before they are due, rather than indicating how benefits are paid to beneficiaries. Coverage for accident-related deaths only refers to a type of insurance coverage, rather than a method of payment to beneficiaries. Therefore, the option that best describes an installment payment is indeed the provision of regular payments to beneficiaries.