Reece purchases a life insurance policy on his wife Betty where he pays the prem

Question

Reece purchases a life insurance policy on his wife Betty where he pays the premium and he will receive the life insurance money when she dies. John is both the and the who will receive the upon the death of Betty, the. A) insured; beneficiary; money; policyholder B) policy owner; beneficiary; face amount; insured C) policy owner; insured; face amount; beneficiary D) beneficiary; premium payer; face amount; policy holder 12) Riley knows her ex-husband would not think about taking out a life insurance policy on himself to protect their two children in the event of his untimely death. As a result, Riley is taking out a policy on him and paying for it herself. That makes Riley the and her children are the. A) insured, policy holders B) policy owner, beneficiaries C) beneficiary, policy holders D) insured, policy owners

Explanation / Answer

11 B Policy Owner, beneficiary, face amount, insured

12 B Policy Owner, beneficiaries

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