Question 5030 of 303 · California Life-Only Agent Exam
Third-party contract insurance refers to a policy
Exactly one answer is correct.
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Correct answer to question 5030
- D: owned by a person other than the insured
Explanation
The owner must have insurable interest in the insured. Examples include a spouse owning a policy on the other spouse.
More questions: Types of Life Policies
- 5031Term insurance premiums for an annually renewable policy typically
- 5032A guaranteed universal life policy is designed primarily to
- 5033An endowment policy
- 5034Which statement is true of non-participating policies?
- 5001A guaranteed death benefit, a level premium, and cash value that accumulates describe
- 5002Which policy provides protection for a stated period and generally has no cash value?