Which of the Following Statements About the Assignment of a Life

question 52

Multiple Choice

Which of the following statements about the assignment of a life insurance policy is true?

• A)The insurer must be notified of any assignment or the death proceeds will be paid to the named beneficiary.
• B)Under an absolute assignment,the only right transferred to a new owner is the right to change the beneficiary designation.
• C)As long as a collateral assignment exists,a creditor will receive the entire death benefit even if the loan has been repaid.
• D)Assignment may be made only with the permission of the insurer and the beneficiary.

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