INSTRUCTIONS: Choose the Word or Phrase in [ ] That

question 12

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
If neither primary nor contingent beneficiaries survive the insured, the life insurance death benefits will be [ kept by the insurance company |  paid to the estate of the insured and distributed by the probate court ].

---

Definitions:

Contingent Liability

A potential financial obligation that may occur, depending on the outcome of a future event.

Estimable

Capable of being estimated or approximated in magnitude or extent.

Remote

Refers to working from a location outside of the traditional office environment, often implying work done from home or another location through the internet.

Contingent Liability

A possible financial duty that could emerge in the future, contingent on the result of a certain event.