I sent you a question via a PM (which you can ignore as I cannot give specific advice in your state).
I asked whether or not you have received the death benefit payout yet.
My initial reaction might be to advise one to consider the ramifications of accepting the death benefit payout in annuitized form rather than to accept a lump sum. However, the better suggestion is to contact an attorney, CPA, or experienced (CLU, ChFC, and/or CFP) life insurance agent properly licensed in the State of South Carolina–if that is where you live–prior to electing a payout option.
I am NOT licensed in South Carolina so I cannot offer specific advice (South Carolina is the toughest state in the nation regarding unauthorized practice of such professions).
My suggestion: Contact a professional (legal, tax, financial planner, and/or insurance) properly licensed in and by the State of South Carolina to receive advice specific to your situation.