Which of the following is true?

Question

Quizplus · Accepted Answer

The beneficiary clause in a life insurance policy allows the policy owner to designate who will receive the death benefit when the insured dies. Option A is incorrect because the grace period is typically 30 days, not two months, and it allows the policy to remain active even if the premium is not paid on time. Option B is also incorrect because a misstatement of age would only result in an adjustment of the death benefit, not a voided contract. Option D is incorrect because some insurance policies allow for an assignment of ownership without the insurer's consent.

Which of the Following Is True