Marilyn Simms Died with a $200,000 Life Insurance Policy

question 6

Multiple Choice

Marilyn Simms died with a $200,000 life insurance policy.Her husband,Jack,was the primary beneficiary and their children,Mimi (age 24) and Ann (age 30) ,were the contingent beneficiaries.All three survived Marilyn.How would the policy proceeds be distributed?

• A)$200,000 to Jack
• B)$100,000 each to Mimi and Ann
• C)$100,000 to Jack and $50,000 each to Mimi and Ann
• D)$66,666 each to Jack, Mimi, and Ann
• E)$150,000 to Jack and $25,000 each to Mimi and Ann

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