Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) A gift occurs when the owner of an insurance policy irrevocably assigns all ownership rights in the policy to another.
B) The value of the gift of a life insurance policy is the amount it would cost to purchase a comparable policy on the date of the gift.
C) The payment of premiums on an insurance policy that is owned by another does not constitute a gift.
D) The interpolated terminal reserve is similar to a life insurance policy's cash surrender value.