Which of the following statements about beneficiary designations is (are) true?
I.The primary beneficiary is entitled to the death proceeds of a life insurance policy only if the contingent beneficiary dies before the insured.
II.If a revocable beneficiary designation is used,the policyowner must obtain the beneficiary's permission to change the beneficiary.
A) I only
B) II only
C) both I and II
D) neither I nor II
Correct Answer:
Verified
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