Vanessa obtains a life insurance policy with no cash surrender value and names her son Winthorp as the beneficiary. This is

Question

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The fact that there is no cash surrender value indicates that this policy is term insurance, which provides coverage for a specific period of time and does not accumulate any cash value. Naming her son Winthorp as the beneficiary means that he would receive the death benefit if Vanessa were to pass away during the term of the policy.

Vanessa Obtains a Life Insurance Policy with No Cash Surrender