Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
A ______________ insurance company is owned by its policyholders.
a. Stock
b. Reciprocal
c. Fraternal Benefits Society
d. Mutual
-:- D Its members, also called policyholders, own a mutual insurance company.
Which of the following is an insurance company that is organized under the laws of
a...
J is named in a policy as the individual who is entitled to receive the policy proceeds
upon the death of T. Which of the following statements best applies to this scenario?
a. J is named as the owner of T's policy
b. T is the insured in the policy and J is the named beneficiary
c. T is the owner and beneficiary of the policy
d. J is the insured and beneficiary of the policy
✓ -:- B Based on the information provided, the only assumption that can be made is
that T is
the insured and J is the named beneficiary. The owner of the policy is not specified and
could either be J or T.
A life insurance policy is being applied for on Z's life. In order for the contract to be
valid, all of the following have an insurable interest and could be the owner of the
policy, except:
a. Z
b. Z's spouse
c. Z's neighbor
d. Z's business partner
4|Page | Grade A+| 2024/2025
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