Beneficiaries 2020
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Question 1 of 9
1. Question
Of the following, whom cannot be named as a beneficiary on a life insurance policy?
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Question 2 of 9
2. Question
Which of the following is not an example of a class beneficiary designation?
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Question 3 of 9
3. Question
Which of the following is NOT true about an estate being the beneficiary on a life insurance policy?
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Question 4 of 9
4. Question
Which of the following can be defined as, “A legal entity created to hold assets for the benefit of a beneficiary.”
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Question 5 of 9
5. Question
If Lisa dies, Lisa would like her fifteen-year-old daughter, Anna, to receive her life insurance policy’s death benefit gradually after she turns eighteen. Which of the following would be the best choice for Lisa to list as the beneficiary?
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Question 6 of 9
6. Question
What does it mean if someone is named as a contingent beneficiary?
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Question 7 of 9
7. Question
Albert is the insured and owner of a life insurance policy; he named his wife Gertrude as the primary beneficiary, and his adult son Freddy as the contingent beneficiary. Albert and Gertrude are in a horrible car accident; Albert dies immediately, and Gertrude dies two days later from her injuries. According to the simultaneous death law (common disaster clause), what will happen to Albert’s death benefit?
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Question 8 of 9
8. Question
Which of the following is NOT true regarding spendthrifts and the spendthrift clause?
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Question 9 of 9
9. Question
Which of the following is NOT true?
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