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:

Identification

A psychological process whereby the subject assimilates an aspect, property, or attribute of the other and is transformed, wholly or partially, by the model the other provides.

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Repression

A defense mechanism where distressing thoughts, memories, or urges are excluded from conscious awareness.