Which of the following retained powers is not an "incident of ownership" in a life insurance policy?
A) A power to use the policy as collateral for loans not to exceed one-half its cash value.
B) A power to select a settlement option spelled out in the policy.
C) fte power to cancel a group policy indirectly by resigning a position.
D) A power to veto a change of beneficiary after the transfer of the policy to the current beneficiary.
Correct Answer:
Verified
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