QUESTION IMAGE
Question
which of the following best describes a beneficiary in a life insurance policy? the person who pays the premiums the person who receives the policy benefits upon the policyholders death the person who underwrites the policy the person who sells the insurance policy
A beneficiary in a life insurance policy is defined as the individual or entity designated to receive the policy's payout when the policyholder passes away. The other options describe different roles: the premium payer is the policyholder, the underwriter is the insurance company risk assessor, and the seller is an insurance agent.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
The person who receives the policy benefits upon the policyholder's death