$8$

$4$ points

Marilyn Simms died with a $$200,000$ life insurance policy. Her husband, Jack, is the primary beneficiary, and their children, Mimi $($age $24)$ and Ann $($age $30),$ are the contingent

beneficiaries. All three survive Marilyn. How will the policy proceeds be distributed?

$$150,000$ to Jack and $$25,000$ each to Mimi and Ann

$$100,000$ each to Mimi and Ann

$$100,000$ to Jack and $$50,000$ each to Mimi and Ann

$$200,000$ to Jack

$$66,666$ each to Jack, Mimi, and Ann