Question 8014 of 303 · California Life-Only Agent Exam

A contingent beneficiary receives the proceeds

Exactly one answer is correct.

Abefore the primary beneficiary, in all circumstances
Bonly if the policy is surrendered for cash value
Cif the primary beneficiary dies before the insured
Donly if the insured commits suicide in the first two years

Show solution

Correct answer to question 8014

C: if the primary beneficiary dies before the insured

Explanation

The contingent beneficiary is the backup. Without any surviving beneficiary, proceeds typically go to the insured's estate.