What Is It Called When an Insured Sells an Interest

question 44

Multiple Choice

What is it called when an insured sells an interest in the life insurance policy to an investor,who then becomes the policy's beneficiary?

• A) Participating policy
• B) Living benefit rider
• C) Viatical settlement
• D) Guaranteed purchase option
• E) None of the above

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Definitions:

Licensing

The granting of a right or permission by one party to another for the use of a product, service, or intellectual property.

Exporting

The sale of goods or services produced in one country to customers in another country.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products.