Which of the Following Statements About the Ownership of a Life

question 62

Multiple Choice

Which of the following statements about the ownership of a life insurance policy is (are) true?
I.Under the ownership clause,the policyholder and beneficiary equally share all contractual rights in the policy while the insured is living.
II.The policyholder can designate a new owner by filing an appropriate form with the insurance company.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Ovum

A female reproductive cell or egg, which when fertilized by a sperm, can develop into an embryo.

Elbow

A joint that connects the forearm to the upper arm, allowing for a range of movements including bending and straightening.

Closer

Positioned near or nearer to the end of a process, sequence, or lifecycle, often implying a role in concluding or finalizing.

Body Structure

The physical and anatomical makeup of a living organism, including its organs, tissues, and cells.