John purchases a life insurance policy on his wife Betty where he pays the premium and he will receive the life insurance money when she dies.John is both the ________ and the ________ who will receive the ________ upon the death of Betty,the ________.

Question

Quizplus · Accepted Answer

John is the policy owner who pays the premium and receives the death benefit as the beneficiary upon the death of his wife Betty, who is the insured. The face amount refers to the amount of the death benefit.

John Purchases a Life Insurance Policy on His Wife Betty