Bo owns a life insurance policy that pays on the death of his wife Greta. The death
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Question:
Bo owns a life insurance policy that pays on the death of his wife Greta. The death benefit is payable to their daughter Moesha. However, if Moesha predeceases Greta, then the policy will pay to Bo's brother Carl. In addition, if Bo were to predecease Greta, the policy will be transferred to Carl as well. Which of the following statements about Bo's life insurance policy is CORRECT?
a)Greta is the policyholder.
b)Bo is the life insured.
c)Carl is the successor policyholder.
d)Moesha is the contingent beneficiary
Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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